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Property Law > Sale Of Land > Flashcards

Sale Of Land Flashcards

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1
Q

At the contact of sale stage the parties are known as…

A

Vendor and purchaser

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2
Q

At the contact of sale stage the parties are known as…

A

Assignor or assignee

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3
Q

The doctrine of caveat emptor only applies to…….

A

Patent defects

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4
Q

Defects that can be noticed via mere inspection are called..

A

Patent defects

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5
Q

……contract for sale of land is valid but not enforceable

A

Oral contracts

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6
Q

what case states that an oral contract may be enforceable in the equitable jurisdiction of the court where the parties have shown sufficient acts of parts performance for the court to decree specific performance under native law and custom

A

International textile Nigeria v. Aderemi

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7
Q

For an oral contract to be enforceable there must be …. Or …..

A

Part performance or a prevailing custom

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8
Q

what case provides that the particulars of a witness may be resorted to in proving customary ownership of property

A

Adedeji v. Olosi

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9
Q

What are the covenants implied by law where the vendor conveys as a beneficial owner

A

-He has a right to convey

-Freedom from encumbrances

-Quiet enjoyment

-Further assurances

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10
Q

What are the additional convenient in a leasehold transaction where there is a certificate of occupancy?

A

-That there is a valid and subsisting lease

-That rent has been paid and the covenants of the lease performed

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11
Q

What is the difference between a lease and a license?

A

A lease grants exclusive possession while a license grants exclusive occupation

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12
Q

A non Nigerian cannot buy property in Nigeria except with the approval of ….

A

The National council of states

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13
Q

What section provides that an infant cannot purchase or sell land

A

Section 7 of the land use act

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14
Q

What section provides that an infant cannot purchase or sell land

A

Section 7 of the land use act

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15
Q

What is gazumping?

A

Where the seller tries to pull out of a contract because he has found a person willing to pay higher

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16
Q

What is gazundering?

A

Where a purchaser tries to pull out of your contract because they have found a place selling cheaper

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17
Q

Who drafts a contact of sale?

A

The vendors solicitor

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18
Q

Who drafts the deed of assignment?

A

The assignee’s solicitor

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19
Q

What is the difference between deposit and part payment?

A
  • A deposit is done before the contract is concluded while a part payment is done after
  • When contract is rescinded part payment will be refunded, but deposit would not be refunded
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20
Q

what case states that it is important to pay the balance of purchase price within stipulated time

A

Odusuya v. Ricketts

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21
Q

What is the interest rate for delay in payments of balance at common law

A

The interest rate is 4%

22
Q

What is the advantage of not including the cost of fittings and fixtures in a contract of sale?

A

It helps the purchaser from being heavy stamp duties

23
Q

Where should the fixtures be included?

A

In the schedule to the contract

24
Q

In respect of insurance of property at what point does the risk pass from the vendor to the purchaser

A

The risk passes once the contract is exchanged

25
Q

At what point does possession pass to the purchaser?

A

Possession does not pass until the commission of sale

26
Q

Where did purchaser take possession before the completion of the contract? He does so as a ……. Or……..

A

Licensee or tenant at will

27
Q

What case provide a suggestion that completion date should be within three months

A

Olanira v. Adebayo

28
Q

What is the provision of the law concerning the time within which a contract of sale must be completed?

A

Within reasonable time

29
Q

what case provides that in the event of the death of one of the parties, and action can be brought for specific performance or to claim damages

A

Gwagwan v. Gagare

30
Q

Is Governor consent required for a sale of land contract

A

No it is not

31
Q

What are the two things that occur at the post contact stage

A
  • Deduction of title
  • Investigation of title
32
Q

……. Is a document of title that is sufficient in itself without any extrinsic evidence to establish and prove the title to the property

A

Root of title

33
Q

Under the conveying act, the length of the deducing title is at least……

A

40 years

34
Q

Under the Property and conveyancing Law, the length of the deducing title is at least……

A

30 years

35
Q

what section provides for the length of deducing title in CA jurisdictions

A

Section 1 & 2 of the Vendors and Purchasers Act

36
Q

what section provides for the length of deducing title in PCL jurisdictions

A

Section 70 of the PCL

37
Q

what section provides for presumption of correctness

A

Section 162 of the EVidence Act

38
Q

**what case ** box of the fact that a person is not a bona fide purchaser for value you did not carry out investigation

A

Animashaun v. Olojo

39
Q

Search at the probate registry is done at……

A

The high court

40
Q

Who prepares a completion statement?

A

It may be prepared by each or both solicitors

41
Q

A search is conducted at LIMS by a purchaser solicitor filling and filing……

A

Form 4

42
Q

Under LIMS a search report is issued in what form?

A

Form 4

43
Q

What is the consent of the governor called in Lagos State?

A

Form 1C

44
Q

Refusal of governors consent makes the transaction…….. while failure to seek governors consent makes the transaction……

A

Refusal of governors consent makes the transaction void while failure to seek governors consent makes the transaction incohate/incomplete

45
Q

what case provides a sale is void where the governor refuse his consent

A

Savannah Bank v. Ajilo

46
Q

Stamping of a document must be done within …….

A

30 days of the execution of deed of assignment

47
Q

Stamping is paid….

A

Ad valorem

48
Q

What is the temporal order rule?

A

The rule dictates that priority is giving to the first in time

49
Q

A deed must be registered within……

A

60 days of it’s execution

50
Q

What are the instances where a survey plan is not needed for the registration of a deed

A
  • A survey plan is not required when the deed of assignment contains a parcel clause, and the parcel contains the schedule and the schedule contains a description of the property
  • Where the deed has already been registered and the deed of assignment makes reference to a survey plan
51
Q

What party of a sale is to obtain the governors consent?

A

The assignor

52
Q

What party of a sale is to register the document?

A

The assignee

Property Law (8 decks)

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