This paper examines the status of the certificate of occupancy in relation to the question of title to land in Nigeria. This is with a view to determining whether or not the present state of real property registration laws in Lagos State of Nigeria permits the registration of a caution on the certificate of occupancy so as to reveal any charge or encumbrance on the certificate of occupancy upon a cursory examination. In this regard, the paper investigates the question of whether or not the certificate of occupancy is a document of title, which assures the existence of a right of occupancy in favour of the holder.