The
process of sale of land also involves a period where the title of the owner of
the property is investigated to know whether it is legal, original and genuine.
Investigation
and deducing of title involves a search at different registry where land instrument
are registered to trace the title document of the vendor in other to deduce the
title of the property.
In
Conveyancing Act states, the law prescribes, the length of years for deducing
title to be a minimum of 40 years. However, a legal title free from any
encumbrance is a good title and it is immaterial that there is a minor defect
in the title of the vendor provided such defect does not go to the root of the
title, it may be cured by indemnity offered by the vendor.
Abstract
of title is a written account, arranged in a chronological order of the
contents of tittle deeds and other documents relating to a particular property.
Epitome
of title contains date of the document, names of the parties therein, the event
and its nature which relates to land. it is often resorted to as result of simple method of deed registration
in Nigeria.
Under
Registration of Titles Law, abstract or epitome of title may not be necessary
as the state upon registration of title, guarantee the vendor's title.
The Property
and Conveyancing Law requires that the root of title should be traced to not
more than 30 years back while the Vendor and Purchaser Act 1874 stipulates 40
years for other states.
Section
130 of the Evidence Act states that recitals in a deed which is 20 years old at
the date of the contract, unless proved to be inaccurate, are deemed sufficient
evidence of the truth of such fact. see also Bank v. Webb (1958)1 all E.R 126.
Advantages
of Epitome of Title
·
It enables the purchaser to raise requisitions on title
·
The purchaser through epitome of title will know if there is any
defect in the vendors title
·
The purchaser’s solicitor base his report on it
Elements
of Good Root of Title
·
The title should disclose all the interests in the property both
legal and equitable
·
It must not be subjected to higher interest than the one disclosed
·
It must sufficiently describe the property
·
It must cast no iota of doubt on the integrity of the title.
Examples
of Good Root of Title
·
An assent
·
A deed of lease
·
A legal mortgage
·
Equitable mortgage by deed accompanied by memorandum under seal
·
Registered titles
·
Certificate of title
·
Deed of assignment
Examples
of Bad Root of Title
·
Power of attorney
·
A lease agreement
·
Equitable mortgage
·
A conveyance subject to mortgage
·
Certificate of Occupancy; this is not a conclusive proof of
title, but a conclusive evidence of proof of a good title., its becomes a good
root of title:
·
When its granted by state
·
Customary owners under deemed grant
·
Buyers from the original owner
How
to Investigate or Search for Title to Land
Purchaser's
solicitor may verify the epitome or abstract of title through the following
ways;
·
Register of title in the registration district
·
Search in the appropriate land registry, companies registry and
probate registry.
·
Investigation of court judgement and orders
·
Inspection of original document of title
·
Investigating traditional title of the owner
·
Physical inspection of the property
Procedure
to Conduct a Search
·
Letter written or forms filled depending on jurisdiction
·
Depose to affidavit in Lagos
·
Attach two passport photograph
·
Payment of search fees..
No comments:
Post a Comment