·
KEY POINTS NOTED IN CLASS
WHO
DEDUCE TITLE? = Vendor/Vendor Solicitor
·
WHO INVESTIGATE TITLE? = Purchaser/ Purchaser Solicitor.
·
IN
DEDUCING TITLE;
I.
Under
Jurisdiction of CONVEYANCING ACT (Northern
states and Eastern States) = AT LEAST 40 years (Section 2 Vendor &
Purchaser Act 1874)
II.
Under
Jurisdiction of PROPERTY AND CONVEYANCING
LAW (Old Western and Midwestern States) = AT LEAST 30 years.
·
AFTER
EXECUTION OF CONTRACT 3 DOCUMENTS WILL BE GIVEN
I.
Copy
of Contract of Sale
II.
Copy
of Abstract of Title
III.
Copy
of Epitome of Title
·
BUT
DOCUMENTS NEEDED FOR THE PURPOSE OF INVESTIGATING TITLE
I.
Copy
of Abstract of Title
II.
Copy
of Epitome of Title.
·
WHEN
A QUESTION COMES ON REQUISITION
I.
It
must be with a Letter headed format
II.
Your
questions must flow from the 1st clause to the last clause in the
abstract of title
III.
Always
take note of the break in links in the abstract of title
IV.
Raise
questions in relation to prove the root of title
·
ON
RESPONSE TO REQUISITION
Where a
defect which goes to the root of title (LATENT DEFECTS) is discovered and
vendor gives no satisfactory reply, the purchaser can rescind the contract
before the completion stage.
EPITOME OF TITLE: This can be described as a
document containing a list of all documents affecting a particular piece of
property together with copies of the listed document. OR a SCHEDULE of
documents and events which constitute the title and is accompanied by
photocopies of the documents.
WHILE
ABSTRACT OF TITLE: Is a term used to refer to a
document containing an outline of all transactions affecting a particular piece
of property over a period of time. OR a CHRONOLOGICAL sequence narrating the
prior owners, liens, encumbrances, that have affected the devolution of title
over a given period of time…..in short SUPER STORY TELLING
USES OF THE DOCUMENT
• To deduce title
• To raise requisition
• It a source of material for drafting
a Recital in a deed.
• Helps the purchaser solicitor in
investigating of the title
(VIP) PROCEDURE FOR
INVESTIGATION
N.B: This depends on the
Jurisdiction where the property is located, Property under C.A and P.C.L have
the same procedure but different in Lagos. The Procedure are;
·
Collect
both abstract and epitome of title from the vendor or vendor solicitor
·
Visit
the relevant places where search can be conducted depending on the
circumstances;
Ø
Land
Registry
Ø
Court
Registry
Ø
Probate
Registry
Ø
CAC
·
Conduct
physical inspection for patent defects and then see the physical condition of
the property.
·
Closely
study the documents of title
·
Investigate
traditional history were necessary
·
Raise
Requisition where necessary
Draft
and Send a Search Report
ON SEARCH REPORT
You
must draft it in form of a letter with a letter headed. It Can actually be
drafted in two ways;
I.
Drafted
together with the forwarding letter on same page
II.
Drafted
separately with an enclosed letter.
It should contain:
·
Date
of search
·
Date
of the letter
·
Name
of owner
·
Title
of owner
·
Description
of the party
·
Encumbrances
(if any)
·
Comments/
Observation
·
Particulars
of the solicitor who conducted the search.
SAMPLE
OF SEARCH REPORT
GROUP 4 & ASSOCIATES
LEGAL PRACTITIONERS AND
SOLICITORS
SUNSHINE CHAMBERS
NO. 5 LAW SCHOOL DRIVE, LAGOS
EMAIL: Group4@gmanil.com
08138765200
Our
Ref________ Your
Ref___________
TO: 17TH
DECEMBER 2016
MR TERRY BAM
NO 6, WUSE ROAD,
ABUJA.
DEAR
SIR,
REPORT OF SEARCH
CONDUCTED ON PROPERTY REGISTERED AS NUMBER 41 ON PAGE 41 IN VOLUME 1034 IN THE
LAND REGISTRY BENIN
Pursuant
to your instructions as received on the 10th of November 2016, a
search was conducted and the report is as follows:
DATE OF SEARCH: 10/12/2016
PLACE OF SEARCH: Land Registry Office Benin, Edo
State.
NAME OF REGISTERED OWNER: MR ENEFAA CHAMBERLAIN
PARTICULARS OF THE PROPERTY: The Property is registered as
Number 41 on Page 41 in 1034 at the Land Registry, Benin.
DESCRIPTION OF THE PROPERTY: The Property is a sixty-feed
wide warehouse located at 31, Kereku street, Auchi Road, Benin City, Edo State,
and is covered by Certificate of Occupancy Numbered 89454d dated 9/07/2013.
NATURE OF TITLE/INTEREST: Statutory Right of Occupancy
ENCUMBERANCES: NIL
COMMENTS: The Title to the Property is
sound. The Purchaser is advised to continue with the transaction.
OUR BILL
OF CHARGE IS ATTACHED TO THIS LETTER FOR YOUR KIND AND PROMPT CONSIDERATION.
Thank You.
Yours faithfully,
____________
Group4 esq
For: Group 4 & Associates
Solicitor
BUT PLEASE NOTE FOR
THE PURPOSE OF BAR PART 2, THE PROCEDURE IS DIFFERENT IN ABUJA
I.
Written
application to conduct search is made at the ABUJA INFORMATION GEOGRAPHICAL
SYSTEM stating the particulars of the property
II.
Application
accompanied with a letter of consent from the owner of the property.
(NOTE
THAT YOU MUST BRING THE ORIGINAL DOCUMENTS FOR SIGHTING)
III.
Show
evidence of payment of search
IV.
Officers
of AGIS would conduct the search and file the search report.
EFFECT
OF FAILURE TO CONDUCT INVESTIGATION
Ø
The
purchaser will be bound by any defects in titles which was not discovered by
failure to investigate
Ø
Where
the purchaser suffers any defects in title, as a result of the lawyer failure
to investigate thoroughly, he may sue the lawyer for breach of his duty of
diligence
Ø
Failure
to investigate thoroughly, the purchaser cannot lay claim to be a bonifide
purchaser of value without notice if there is an existing title to the land.
TO BE CONTINUED
THANK YOU FOR STOPPING
BY, YOUR SUCCESS IS OUR SATISFACTION……….
·
READ HARD
·
PRAY HARD
·
EAT HARD
·
REST HARD…………… …………..
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