Section 49 Property and Conveyancing Law of the Western Region of Nigeria 1959

Section 49 of the Property and Conveyancing Law of the Western Region of Nigeria 1959 is about Power to compromise claims and release restrictions, etc. It provides as follows:

(1) The trustees for sale may, either with or without giving or taking any
consideration in money or otherwise, compromise, compound, abandon, submit to
arbitration, or otherwise settle any claim, dispute, or question whatsoever relating to
the trust land, or any part thereof, including in particular claims, disputes or
questions as to boundaries, easements, and restrictive covenants, and for any of those purposes may enter into, give, execute, and do such agreements, assurances, releases, and other things as the trustees may think proper.

(2) The trustees for sale may at any time, by deed or writing, either with or without
consideration in money or otherwise, release, waive, or modify, or agree to release,
waive, or modify, any covenant, agreement, or restriction imposed on any other land
for the benefit of the trust land, or any part thereof, or release, or agree to release,
any other land from any easement, right or privilege, including a right of preemption, affecting the same for the benefit of the trust land, or any part thereof.