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GENERAL OVERVIEW AND LEGAL WORK

IntroductionThe term ‘property’ has diverse meanings but it has been defined as the right to possess, use, and enjoy a determinate thing (either a tract of land or a chattel); the right of ownership. The word is commonly used to denote everything which is the subject of ownership, corporeal or incorporeal, tangible or intangible, visible or invisible, real or personal[1]. Property Law Practice deals with property transactions and laws applicable to tangible or real property (i.e. land, anything attached to land or any interest in land).

Transactions Affecting Land 1. Pledge: A pledge is a bailment that conveys possessory title to property owned by a debtor (the pledgor) to a creditor (the pledgee) to secure repayment for some debt or obligation and to the mutual benefit of both parties[2].Under customary law, a pledge of land is an arrangement, whereby the owner-occupier of land known as the pledgor, in order to secure an advance of money or money’s worth, gives possession and the use of…