F.M.B. PLC
V.
BABATUNDE

(1999) JELR 57765 (CA)    

Court of Appeal  ·  CA/IL/15/99 ·  30 Jun 1999 ·  Nigeria
 · 
Other Citations
FMBN v. Babatunde (1999) 12 NWLR (Pt. 632) 683
Core Terms Beta
respondent
mortgage transaction
provisions of section
cemetery road
land use act
mortgage deed
3rd defendant
8th july
kwara state
learned counsel
military governor
right of occupancy
1st day of december
1st defendant
lack of governor
leading judgment
permanent secretary
2nd defendant
auction sale
co-operative
high court
learned counsel’s view
learned trial judge
lower court
mortgaged property
purported mortgage deed
respondent’s case
supreme court
above issues
competence of the approval
consent of the governor of kwara state
date of this letter
deed of mortgage
evidence act
facts of the case
final result
following cases
following questions
herald newspapers of 6th july
judgment of belgore j.
kwara state high court
laws of nigeria
letter no. lan
loan of n45,000
purchaser of his building
respect of the property
right of occupancy of plot
said auction sale
statutory power of sale
title deeds of his property

AMAIZU, JCA.: (Delivering the Leading Judgment): This is an appeal against the judgment of Belgore J., of the Kwara State High Court, sitting at Ilorin. The facts of the case briefly are as follows: In 1983, the plaintiff, referred to in this judgment as the respondent, took a loan of N45,000 (Forty Five Thousand Naira only) from the 1st defendant, referred to now as the appellant, with which to erect a house. In order to secure the loan, the respondent deposited the title deeds of his property at No. 9, Cemetery Road, G.R.A., Ilorin, with the appellant. On the 1st day of December, 1983, the respondent executed a deed of mortgage in respect of the property.

When the respondent defaulted in making his instalmental payment, as provided for in the mortgage deed, the appellant secured the services of an auctioneer, the 2nd defendant in the suit in the High Court to dispose of the mortgaged property, that is, No. 9 Cemetery Road, G.R.A., Ilorin, in order to satisfy the indebtedness.

The au…

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