12 Jan

LAND LAW 2.1 LEASES AND TENANCIES (INTRODUCTION)

LEASES AND TENANCIES. The Land Use Act has generally converted freehold interest to right of occupancy limited by a term certain see Section 8 LUA. Leasehold interest now assume position of sub-lease (except in the case of a deemed grantee who has not obtained a certificate of occupancy). See Savanah Bank V Ajloh, Section 23 […]

12 Jan

LAND LAW 2.2. CREATION OF LEASES

CREATION OF LEASES AND TENANCIES. Who can create or take a lease? – The owner of a right of occupancy. – A tenant: (not a tenant at will or sufferance) can create a tenancy of a lesser duration.A donee of Power of Attorney: not more that the authorized period else surplus be void. – A […]

12 Jan

LAND LAW 2.3 TYPES OF TENANCIES

TYPES OF TENANCY/LEASE. A lease may be broadly classified based on the following: Based on purpose: under this we have residential, commercial, agricultural, industrial… 2. Based on Tenure: Under this we have Tenancy at Will, Monthly, Quarterly, Half-yearly, Yearly and fixed tenancy. Monthly, Quarterly, Half-yearly and Yearly tenancy require one week’s, one month, 3 months […]

12 Jan

LAND LAW 2.4 COVENANTS IN LEASES

COVENANTS IN LEASES. Who are bound by the covenants? If there is privity of contract, between the lessor and lessee, either can enforce the covenant against the other whether it concerns the land or not. Where there is no privity of contract, a covenant can only be enforced IF: There is privity of estate between […]

11 Jan

LAND LAW 2.5 TRANSFER AND TERMINATION OF LEASES

TRANSFER OF LEASEHOLD INTEREST Where there is nothing to the contrary in the lease agreement, the lessee may convey part of his leasehold interest (even if less than a day) to a legally capable third party. It can be done orally if the duration does not exceed 3 years. Where it exceeds 3 years, it […]

11 Jan

LAND LAW 2.6 MORTGAGES; GENERAL INTRODUCTION

MORTGAGES.   A mortgage was defined by Lindley MR in Santley V Wilde as “…A legal or equitable conveyance of title as a security for the payment of a debt… subject to a condition that title shall be reconveyed if the mortgage debt is liquidated”. Where a person (mortgagor) conveys his (legal or equitable) interest […]

11 Jan

LAND LAW 2.7 MORTGAGES (CREATION)

CREATION OF MORTGAGES. Preliminary Enquiries: as to the Capacity of the Parties. Can they validly make and take a mortgage? E.g. under Section 1 Infant Relief Act 1874, a loan by mortgage is not recoverable from an infant. But See Nottingham Permanent Building Society V Thurstan. Generally, an insane person cannot transact a mortgage except […]

11 Jan

LAND LAW 2.8 MORTGAGES; DOCUMENTATION

DOCUMENTATION. Though not so necessary for exams. A mortgage agreement must be evinced in writing and signed by the parties (in accordance with Section 4 of the Statute of Frauds). The memorandum/written agreement should contain information relating to the parties, the contract sum, payable interest, mode and manner of payment and redemption. (The mortgage agreement […]

11 Jan

LAND LAW 2.9 MORTGAGES; PROTECTION OF SECURITY

NATURE OF MORTGAGEE’S SECURITY. Mortgagee generally has legal interest and mortgagor has equitable interest (by equity of redemption).  If mortgagee dies, his Personal representatives enter his shoes. A mortgagee is not a trustee… rather he is one with adverse interest. For the following reasons: – The power of entry into possession which a legal mortgagee […]

11 Jan

LAND LAW 2.10 REDEMPTION OF MORTGAGES

REDEMPTION OF MORTGAGE.   This is done when the mortgagor (or any person acting in his stead like Personal Representative, Judgment Creditor, etc.) pays the due principal sum plus interest and any other costs. See Section 26 CA–Smith V Smith. After redemption, the mortgaged property is “released” by a re-conveyance of the property to the […]

11 Jan

LAND LAW 2.11 EASEMENTS

EASEMENT. Because this note is too summarised, readers may not fully understand by merely reading through. Readers are advised to get the facts of the cases to have a better grasp. Apologies. Easement is a right attached to land which allows the owner of that land (dominant owner) to use the land of another person […]