Post-Contract Stages and Deducing Title in Land Law

Flashcards covering the post-contract stage of land sale, focusing on ducing title, types of roots of title, and statutory requirements.

What are the four components of the post-contract stage in a sale of land?

1. Deducing of title, 2. Investigation of title, 3. Searches, and 4. Requisition.

Who bears the responsibility of deducing title in a land sale contract?

The vendor.

How does a vendor deduce title?

By producing an abstract and epitome of title, and by answering all requisitions raised by the purchaser during investigation.

What is an abstract of title?

A narration of the history of the property, including how it came about, prior owners, and whether it was leased.

What is an epitome of title?

A schedule of documents and events which constitutes a title, accompanied by photocopies of the documents of title.

What are requisitions and what do they typically apply to?

Questions raised by the purchaser during investigation that apply to latent defects (defects that cannot be seen physically).

What is the statutory period for deducing title in Property and Conveyancing Law (PCL) states and Abia state?

30 years.

What is the statutory period for deducing title in CA states and Lagos?

40 years.

Under Section 162 of the Evidence Act 2011, what is the presumption regarding a deed or instrument that is 20 years old?

There exists a presumption of regularity for the facts, statements, or recitals contained within the document.

Which case established that a document will 'fly' if the vendor can prove title without break for 20 years?

Owade v Omitola.

What is the definition of a 'root of title'?

A document or transaction conferring title on a person purporting to be the owner of a property.

What are the five elements of a good root of title?

1. Sufficient description of the holder and property; 2. Transfer of both equitable and legal interest; 3. Not subject to higher interest; 4. Document must be genuine; 5. No face-value doubts regarding authenticity.

Name examples of a good root of title.

Duly perfected deed of assignment, duly perfected legal mortgage, assents by personal representatives, duly perfected deed of gift, vesting orders or court declarations, and Certificates of Occupancy (C of O) arising from a state grant.

Name examples of a bad root of title.

License, lease, equitable mortgage, power of attorney, contract of sale of land, unregistered deeds (assignment, legal mortgage, gift), and a will.

In what two circumstances can a Certificate of Occupancy (C of O) be a good root of title?

1. Where the holder has other means of proving title besides the C of O; 2. Where the C of O is in respect of a state grant.

Which case identifies when a Certificate of Occupancy acts as a good root of title?

Osho v Foreign Finance Commission Corporation.