MARFUL-SAU, JSC: This appeal relates to interpleader proceedings taken at the High Court, Accra. The brief facts of the case are that the Appellant herein took judgment against the defendants in the original suit to recover an amount of GHC 7, 526, 234.29, being the balance including interest on a loan advanced to the defendants. In executing the judgment the Appellant attached the property of the 2nd defendant which was used to secure the loan. A Deed of Mortgage was executed by the Appellant and the 2nd defendant on 4thMay 2007. The record revealed that even though the Mortgage was executed in 2007, it was used as security for the loan taken by the defendants in the year 2010. Now, the 2nd defendant on the 11th November 2008 assigned his interest in a portion of the property the subject of the Mortgage to the 1st Claimant/Respondent in this appeal. The 2nd defendant again on the 8th of July 2009 assigned another part of the mortgaged property to the 2nd Claimant/Respondent herein. T…
BANK OF AFRICA LTD.
V.
GRACEFIELD MECHANTS LTD. & ORS.
(2020) JELR 80041 (SC)
Supreme Court 5 Feb 2020 Ghana
Case
Key Passages 3
Citing Cases 1
BriefBot Summary
- The Supreme Court held that unregistered mortgages are ineffective against third parties under Ghanaian law; thus, bona fide purchasers for value without notice take property free of such unregistered interests. - The claimants, having pu
Case Details
Suit Number:CIVIL APPEAL SUIT NO. J4/35/2016
Judges:ANSAH, JSC (PRESIDING).
DOTSE, JSC.
MARFUL-SAU, JSC.
DORDZIE (MRS), JSC.
AMEGATCHER, JSC.
Counsel:SOMUAH ASAMOAH FOR THE PLAINTIFF/JUDGMENT/CREDITOR/APPELLANT/APPELLANT; FELIX QUARTEY FOR THE 1ST CLAIMANT/RESPONDENT/RESPONDENT; JOHN F. APPIAH FOR THE 2ND CLAIMANT/RESPONDENT/RESPONDENT
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