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7 Cards in this Set
- Front
- Back
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Is C of O a good root of title? |
No; see S9, S34 LUA (deemed grant) |
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How many years back does vendor need to deduce title in a) CA states b) PCL states c) Lagos d) Abia? |
CA states = 40 years, PCL = 30 yrs (S70(1) PCL), Lagos = 20 for state grant and 12yrs for family land, Abia = 30yrs |
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Who deduces title? |
Vendor |
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Who prepares contract of sale? |
Vendor's solicitor |
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When does vendor not need to deduce title? |
When title is registered under RTL or LIMS |
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Who's duty is it to obtain Governor's consent? |
Vendor's solicitor but in practice purchaser's solicitor pursues it |
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Contract of sale is chargeable to a _____ stamp duty while deed of assignment is chargeable to ________ stamp duty |
Fixed stamp duty, ad valorem stamp duty |
