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Lawbreed Blog
Home»Legal Updates»Holding Property Jointly – By Layi Babatunde, Esq
Legal Updates

Holding Property Jointly – By Layi Babatunde, Esq

Lawbreed LimitedBy Lawbreed LimitedMarch 4, 2020Updated:March 17, 2020No Comments4 Mins Read
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It is not uncommon for friends who consider themselves “very close” or blood brothers and sisters or husbands and wives to buy or hold property jointly. Indeed, on a number of occasions, spouses or even about to be wedded, shop around for real estate. As soon as they find one and the agreed price is paid, their solicitor is instructed, to prepare the Deed or other title documents in the joint names of “Mr. and Mrs. XY.”

However in doing so, perhaps a number of things are taken for granted or assumed and this mis-understanding of the effect of the instruction to the solicitor, comes  to light only after “the two good and inseparable friends” are turned asunder, by things of the flesh, mostly money or other matters of the heart (please this piece is not about marriage  counseling  or the property rights of those married under the Act and it should be understood in that context).

There is no gain saying the fact that whatever relationship that matures into owning property jointly, is worth preserving, but like every business decision, everyone should endeavour to take well informed decisions,  knowing fully well the implications of such decisions. By this, there should be no room for regret whatever happens thereafter.

Generally, a property held jointly is such that  each person ” holds nothing by himself and yet holds the whole together with his fellow”. A joint owner therefore does not hold any separate title distinct to himself, which explains why where, for instance, a property is held jointly by two people, the property becomes the sole property of the surviving joint owner, on the death of the other. It is the surviving joint owner, that becomes the owner of the jointly held property, as the property simply vests in him, as survivor. Because a joint owner does not own a share, but the whole, there is no question of passing over ” his share” to somebody else. This can only arise, by partition or severance of the jointly owned property in the lifetime of the joint owners. And of course once this happens,  such property seizes  to be joint. Where the property is for instance jointly owned by Six people, on the death of any of them, the survivors retain ownership  among themselves  until the last man, who at that stage becomes sole owner!

There  was a very pathetic case of two friends  who  held  a prime  property jointly. Unfortunately one died rather prematurely and his children have never stopped demanding  for the share of their father in the join property, forgetting the right  of survivorship of the  surviving joint  owner.  The  Property  and Conveyancing  Law of old Western and Mid-Western Nigeria tried to moderate some of the difficulties associated with what is commonly called “Joint Tenancy” but that does not preclude  being cautious and deliberate in taking a decision to own property Jointly. Indeed, anyone Who knows the implications  of buying property  Jointly  with another,  should  not fight shy of taking the necessary steps as occasion may demand in his life time and in the life of the joint holding, otherwise it may be too late. There may be times when it may be wiser to hold “in – common” instead of  ” Jointly“.

Like in every endeavour  of man, buying property jointly is not a decision to be taken without presence  of mind and the ability to administer  such ownership.   This of course implies the boldness  to call for a partition or do a severance, when occasion  so demands.  That way both the surviving joint owner and the estate  of the  deceased  joint owner  will be saved  a lot of troubles  and bad blood. If such important  decision  is not made,  and the surviving  Joint owner who  indeed  has  a legal  right  to inherit,  is not  compassionate or suddenly becomes  unfriendly to those the deceased  joint owner has left behind, even equity may not go far, as equity  follows the law. It is a mute point perhaps, whether it will make a difference  that one or all of the other joint owners died unnaturally  or supernaturally,  leaving  behind  the “strongest”  of all.

Please  when giving that instruction,  make  sure reason  has not gone to bed and do not forget to pray (if you know how), as the journey of your joint holding progresses.  The Right of Survivorship  is real.

The masculine  in this article or any other piece includes  the feminine.

Extract taken from

HINTS ON LAND DOCUMENTATION AND LITIGATION IN NIGERIA

(Published by LAWBREED LIMITED)

First published in July, 1999

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