Section 42 Property and Conveyancing Law of the Western Region of Nigeria 1959

Section 42 of the Property and Conveyancing Law of the Western Region of Nigeria 1959 is about Regulations respecting leases generally. It provides as follows:

(1) Save as hereinafter provided, every lease
(i) shall be by deed, and be made to take effect in possession not later than twelve
months after its date, or in reversion after an existing lease having not more than
seven years to run at the date of the new lease;

(ii) shall reserve the best rent that car. reasonably be obtained, regard being had to
any fine taken, and to any money laid out or to be laid out for the benefit of the trust
land, and generally to the circumstances of the case;
(iii) shall contain a covenant by the lessee for payment of the rent, and a condition
of re-entry on the rent not being paid within a time therein specified not exceeding
thirty days.

(2) A counterpart of every lease shall be executed by the lessee and delivered to the
trustees for sale, of which execution and delivery the execution of the lease by the
trustees shall be sufficient evidence.

(3) A statement, contained in a lease or in an endorsement thereon, signed by the
trustees for sale, respecting any matter of fact or of calculation under this Law in
relation to the lease, shall in favour of the lessee and those claiming under him be
sufficient evidence of the matter stated.

(4) A fine received on the grant of a lease under any power conferred by this Law
shall be applicable in the same manner as if the money represented proceeds of sale arising under the trust for sale.

(5) A lease at the best rent that can be reasonably obtained without a fine, and
whereby the lessee is not exempted from punishment for waste, may be made where the term does not extend beyond three years from the date of the writing, by any writing under hand only containing an agreement instead of a covenant by the lessee for payment of rent.