Section 33 Property and Conveyancing Law of the Western Region of Nigeria 1959

Section 33 of the Property and Conveyancing Law of the Western Region of Nigeria 1959 is about Vesting of land limited by way of succession. It provides as follows:

(1) A conveyance or devise, having effect after the commencement of this Law,
by which land is limited to or in trust for any person by way of succession shall, if
the land is not vested in trustees upon trust for sale in accordance with the provisions of section 32, operate to vest the land in the persons and upon the trusts specified in the succeeding provisions of this section.

(2) (a) The land shall vest
(i) in the persons appointed by the conveyance or will as trustees of the settlement;
or if there are no such persons, then
(ii) the persons, if any upon whom power of sale of the land or power to consent to
or approve the exercise of the power of sale is conferred; or, if there are no such
persons, then

(iii) the persons if any who are for the time being under the conveyance or the will
trustees with power of or upon trust for sale of any other land comprised therein and
subject to the same limitations as the land to be sold or otherwise dealt with, or with
power of consent to or approval of the exercise of such power of sale.

(b) Where the land is limited by will and apart from this sub-section there would be
no trustees of sale for the purposes of this Law then the personal representatives of
the deceased shall, until other trustees are appointed, be the trustees for sale in whom the legal estate in the land concerned is by virtue of this sub-section vested but where there is a sole personal representative, not being a trust corporation, it shall be obligatory on him to appoint an additional trustee to act with him for the purposes of this Law, and the provisions of the Trustee Law, relating to the appointment of new trustees and the vesting of trust property shall apply accordingly.

(3) The land shall be held by the trustees upon the trusts and subject to the provisions following, namely upon trust to sell the same with power to postpone sale of the whole or any part thereof and to stand possessed of the net proceeds of sale for payment of costs and the net rents and profits until sale after payment of rates, taxes, costs of insurance, repairs and other outgoings upon such trust and subject to such powers and provisions (including all powers and provisions specified in the
settlement not inconsistent with the foregoing) as may be necessary for giving effect
to the rights of the persons beneficially interested in the land.