Section 69 Property and Conveyancing Law of the Western Region of Nigeria 1959

Section 69 of the Property and Conveyancing Law of the Western Region of Nigeria 1959 is about Provisions as to contracts. It provides as follows:

(1) A stipulation that a purchaser of a legal estate in land shall accept a title
made with the concurrence of any person entitled to an equitable interest shall be
void, if a title can be made discharged from the equitable interest without such
concurrence
(a) under a trust for sale; or
(b) under this Law, or any other statute.

(2) A stipulation that a purchaser of a legal estate in land shall pay or contribute
towards the costs of or incidental to
(a) obtaining a vesting order, or the appointment of trustees of a conveyance on trust for sale; or
(b) the preparation, stamping or execution of a conveyance on trust for sale; shall be void.

(3) A stipulation contained in any contract for the sale or exchange of land made
after the commencement of this Law, to the effect that an outstanding legal estate is to be traced or got in by or at the expense of a purchaser or that no objection is to be taken on account of an outstanding legal estate, shall be void.

(4) If the subject matter of any contract for the sale or exchange of land
(i) is a mortgage term and the vendor has power to convey the fee simple in the land, or, in the case of a mortgage of a term of years absolute, the leasehold reversion affected by the mortgage, the contract shall be deemed to extend to the fee simple in the land or such leasehold reversion;
(ii) is an equitable interest capable of subsisting as a legal estate, and the vendor has power to vest such legal estate in himself or in the purchaser or to require the same to be so vested, the contract shall be deemed to extend to such legal estate.

(5) This section does not affect the right of a mortgagee of leasehold land to sell his mortgage term only if he is unable to convey or vest the leasehold reversion
expectant thereon.

(6) Any contract to convey an undivided share in land made before or after the commencement of this Law shall be deemed to be sufficiently complied with by the conveyance of a corresponding share in the proceeds of sale of the land in like manner as if the contract had been to convey that corresponding share.

(7) A vendor shall not have any power to rescind a contract by reason only of the enforcement of any right under this section.

(8) This section only applies in favour of a purchaser for money or money’s worth.