Section 44 Property and Conveyancing Law of the Western Region of Nigeria 1959
Section 44 of the Property and Conveyancing Law of the Western Region of Nigeria 1959 is about Regulations respecting building leases. It provides as follows:
(1) Every building lease shall be made partly in consideration of the lessee, or
some person by whose direction the lease is granted, or some other person, having erected or agreeing to erect buildings, new or additional, or having improved or repaired or agreeing to improve or repair buildings, or having executed or agreeing to execute on the land leased, an improvement in connection with building purposes.
(2) A nominal or other rent less than the rent ultimately payable, may be made
payable for the first five years or any less part of the term.
(3) Where the land is contracted to be leased in lots, the entire amount of rent to be ultimately payable may be apportioned among the lots in any manner:
Provided that
(i) the annual rent reserved by any lease shall not be less than ten shillings; and
(it) the total amount of the rents reserved on all leases for the time being granted
shall not be less than the total amount of the rents which, in order that the leases may be in conformity with this Law, ought to be reserved in respect of the whole land for the time being leased; and
(iii) the rent reserved by any lease shall not exceed one-fifth part of the full annual
value of the land comprised in that lease with the buildings thereon when completed.
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