23 Jan

PL-PRACTICE WEEK 3 (GENERAL INTRODUCTION AND APPLICABLE LAWS)

GENERAL OVERVIEW AND APPLICABLE LAWS. WEEK 3 — GENERAL OVERVIEW AND LEGAL FRAMEWORK :: OVERVIEW (OBJECTIVES, CONTENT AND SCOPE) OF THE PROPERTY LAW PRACTICE (MODULE) COURSE: Covers transactions and endeavours bearing on real property[1] like deeds, power of attorney, Sale of Land, Leases and Tenancies, Assignment of Leases, Mortgages and charges, License, Easement, LRL, Wills […]

23 Jan

PL-PRACTICE WEEK 4, DEEDS

WEEK 4 – DEEDS. A deed is a written document (signed and sealed) which creates a binding obligation or transfers an interest or right in property. It may be a deed poll (which is executed by (and binds) one person) or indenture (which is executed by (and binds) more than one person). :: WHEN DEED […]

23 Jan

PL-PRACTICE WEEK 5 POWER OF ATTORNEY

WEEK 5 — POWER OF ATTORNEY. :: MEANING OF POWER OF ATTORNEY. A formal instrument of delegation by which a person (donor) authorises another (donee) to act for him (for certain things listed in the power of attorney). Ude v Nwara, Chime v Chime 46 CA. 141 PCL. :: FEATURES OF POWER OF ATTORNEY. – […]

23 Jan

PL-PRACTICE WEEK 6 CONTRACT OF SALE AND REGISTERED CONVEYANCING 1

WEEK 6 – CONTRACT OF SALE AND REGISTERED CONVEYANCING 1 :: LEGAL RESTRICTIONS OR LIMITATION TO SALE OF LAND: Legislative Restrictions: LUA: bestows allodial title in land (hitherto vested on the land owners) on the governor of the State and he holds it in trust for Nigerians–Abioye v Yakubu. What the Land Owners have is […]

23 Jan

PL-PRACTICE WEEK 7 CONTRACT OF SALE AND CONVEYANCING 2

WEEK 7 — CONTRACT OF SALE AND CONVEYANCING 2 CONTENTS EXPLAIN HOW A VENDOR CAN DEDUCE HIS TITLE: Deducing title means showing that the vendor had the right to convey the property in the way he did. Vendors of land in Lagos do not deduce title-RTL. By deducing Abstract and Epitome of title. Is done […]

22 Jan

PL PRACTICEWEEK 8 REGISTRATION

WEEK 8 — REGISTERED CONVEYANCING (REGISTRATION OF TITLES-RTL) it appears it is now Land Registration Law (LRL) 2014 enacted to repeal (LIRL, EMSL, RTL RTAR) and harmonise/unify the system of registration OF – Land Holders; – Titles to land; – Transactions in Land and documents affecting land in Lagos. In essence, existing interests and transfer […]

22 Jan

PL-PRACTICE WEEK 9 LEASES 1

WEEK 9 — LEASES 1 MEANING OF (AND PARTIES TO) A LEASE: Occurs where a person (called lessor/landord) grants exclusive use and possession[1] of his premises to another (called lessee/tenant) for a definite period[2]. May be with or without consideration called rent. :: TYPES OF A LEASE: A lease may be classified; Based on purpose: […]

22 Jan

PL-PRACTICE WEEK 10 LEASES 2

WEEK 10 – LEASES 2 COVENANTS IN LEASES (REFLECTING THE POSITIONS IN ABUJA AND LAGOS STATE): A covenant is an agreement or promise by the parties to do or refrain from doing a thing specified. Covenants may be implied, usual and express and the imputation would depend on the type of lease, nature and jurisdiction […]

22 Jan

PL-PRACTICE WEEK 11 MORTGAGE AND CHARGES 1

WEEK 11 – MORTGAGES AND CHARGES I MEANING: Where a person (mortgagor) conveys his (legal or equitable) interest in land as collateral to secure loan from another (mortgagee) with a provision for redemption upon repayment of the loan-Olowu v Miller Bros Ltd. A company can do the above by way of debenture (unless expressly prohibited […]

22 Jan

PL-PRACTICE WEEK 12 (MORTGAGE AND CHARGES 2)

WEEK 12 — MORTGAGE AND CHARGES 2 COVENANTS IN A MORTGAGE: – Punctual payment principal and interest as and when due. The rate usually graduates as default persists. – Insurance: S 123, 130 PCL. Refer to insurance discussion on lease. – Repair. – Restricting redemption within a particular period: the right to redeem should not […]

22 Jan

PL-PRACTICE WEEK 13 (MORTGAGE AND CHARGES 3)

WEEK 13 — MORTGAGE & CHARGES 3 :: UP-STAMPING: where the same mortgagor uses the same property earlier used to presently secure an additional loan facility from the same mortgagee, he should stamp up to reflect the new/additional loan. He need not register again nor get another governor’s consent-Owoniboys Technical Services Ltd v Union Bank […]