VESTING DEED OF ASSIGNMENT AGREED BETWEEN MUSEDIQ ALOGBA’S CHILDREN AND NASFAT
Prepared by: T.O. ANIBABA ESQ, Ag. Legal Secretary, NASFAT, Ikorodu Branch
Dated this …………………… day of ……………………… 20………
BETWEEN
(1)OLOLADE ALOGBA OMONIYI
(2) OLUWAFUNMILAYO TAYIBAL ALOGBA ANJORIN
(3) BABAWALE BISIRITU ALOGBA
(4)LATIFAT ABIMBOLA ALOGBA ADENEKAN (acting as Administrators, beneficiaries and or trustees on behalf of all the beneficiaries of the estate of LATE MUSEDIQ OLADEGA ALOGBA)
AND
NASFAT IKORODU BRANCH
VESTING DEED OF ASSIGNMENT IN RESPECT OF ALL THAT PORTIONS OF LAND KNOWNS AS PLOT OR NO …………………………. EBUTE, IKORODU, LAGOS STATE MEASURING APPROXIMATELY ………………………. SQUARE METRES INCLUDING THE MOSQUE MORE PARTICULARLY SHOWN ON SUVEY PLAN NO ………….. DRAWN BY ……………………………….. REGISTERED SURVEYOR”,
VESTING DEED OF ASSIGNMENT
This vesting Deed of Assignment is made this …………….day of .2017
Between
(1)OLOLADE ALOGBA OMONIYI (2) OLUWAFUNMILAYO TAYIBAL ALOGBA ANJORIN (3) BABAWALE BISIRITU ALOGBA (4)LATIFAT ABIMBOLA ALOGBA ADENEKAN (acting as Administrators, beneficiaries and or trustees on behalf of all the beneficiaries of the estate of LATE MUSEDIQ OLADEGA ALOGBA) of No 10, Alogba street, off Ibeshe road, Itasin Ebute, Ipakodo, Ikorodu Lagos State (hereinafter called “The ASSIGNORS” which expression wherever the context so admits include their Heirs, legal personal representatives and Assigns of the persons represented herein) of the ONE PART.
AND
NASFAT (Ikorodu Branch) of Itokin road, Ikorodu, Lagos state (herein after called “The ASSIGNEE” which expression wherever the context so admits shall include its Heirs, Legal personal representatives and Assigns) of the OTHER PART.
WHEREAS
1:1 All that the landed property situate and known as Plot or No 10, Alogba street, off Ibeshe road, Itasin Ebute, Ikorodu, Lagos State belonged to LATE MUSEDIQ OLADEGA ALOGBA upon which he exercised right of ownership, enjoyed physical possession and control throughout his life time and until his demised without any disturbance from any quarters and also built at the frontage thereof a dwelling house whereat he lived with his family.
1:2 LATE MUSEDIQ OLADEGA ALOGBA died testate and by virtue of the provisions of his last Will and Testament dated 26th Nov 2007 admitted to probate the whole property situate and known as Plot or No. 10, Alogba street, off Ibeshe road, Itasin Ebute, Ikorodu, Lagos State (Including all the undeveloped portions of the land) devolved upon the ASSIGNEE.
1:3 The ASSIGNEE who is one of the beneficiary of the recited property with a view of taking Over the property later took cognizance of the fact that some of the beneficiaries challenged the said Will in High Court of Lagos State which subsequently culminated into entering Memorandum of Understanding dated 13th February 2014 among parties (Beneficiaries) and Court finally entered it as Consent Judgment.
1:4 Upon the strength of the said Memorandum of Understanding (Consent Judgment) the property subject matter of this Vesting Deed of Assignment asserted the right and authority of the ASSIGNEE over the said landed property situate and known as Plot or No ……………………… Ebute, Ikorodu, Lagos State which was granted in its favour by the said Will.
1:6 But virtually all the beneficiaries were still not comfortable with the said Memorandum of Understanding (Consent Judgment) which gave out the said property subject matter of this Deed to the ASSIGNEE such that the (BENEFICIARIES) the ASSIGNORS subsequently insisted that the said property will not be given out to the ASSIGNEE and it will not have anything to do with the property in question.
1:6 Subsequent upon the dissatisfaction aforesaid, steps were taken and several were held between the ASSIGNORS and the ASSIGNEE to resolve the issue of taken over the property by the ASSIGNEE.
1:7 Upon the intervention of prominent members of the ASSIGNEE who sued for peace between the ASSIGNORS (BENEFICIARIES) and the ASSIGNEE, so that the ASSIGNEE can lawfully take possession of the property known as Plot or No ……………………………………..Ebute, Ikorodu, Lagos State without any resort to litigation, rancour or acrimony which said efforts were successful, the parties to this Vesting Deed of Assignment doth hereby agreed among themselves to bury the hatchet and let peace reign and the ASSIGNORS (BENEFICIARIES) directed the ASSIGNORS to do the needful.
1:8 The ASSIGNORS as the persons empowered under clause of Memorandum of Understanding (Consent Judgment) to administer and or act as Trustees of the Beneficiaries of the Estate under consideration Ebute, Ikorodu, Lagos State) with powers to deal with the Estate properties (Particularly property known as Plot or No …………………………………..covered by the said Will aforesaid.
1:9 That the ASSIGNEE conceded to let the ASSIGNORS (BENEFICIARIES) have some portions (Demarcated from the second main gate down to the building wherein one of the wife of the deceased LATE MUSEDIQ ALOGBA producing table water up to the back of the main building) of the landed property to themselves and to be shared among themselves while the remaining portions of the land measuring 6557.589 Square metres including the Mosque, all at the right wing of the property subject matter of this Vesting Deed of Assignment shall be given to the ASSIGNEE.
1:10 The ASSIGNORS (BENEFICIARIES) of the above recited property for record purpose are desirous of documenting the said transfer of ownership of the portions of the land measuring 6557.589 square metres including the Mosque, all at the right wing of the property subject matter of this Vesting Deed of Assignment and alienate their entire interest, estate and or right in the property mentioned in paragraph 1:9.
- Now THEREFORE in consideration of the sum of N 2,000 (Two Thousand Naira) only paid to the ASSIGNORS as the Administrators, Beneficiaries and Trustees acting on behalf of the Beneficiaries of LATE MUSEDIQ OLADEGA ALOGBA and on that behalf doth hereby grant and assign unto the ASSIGNEE the entire interest, estate or legal right over “ALL THAT Portions of land known as Plot or No……………………………………….., Ebute, Ikorodu, Lagos State measuring approximately 6557.589 square metres including the
Mosque more particularly shown on Survey Plan no ……………………………………. drawn by
………………………………………………. Registered Surveyor” free from any encumbrance whatsoever.
- The ASSIGNORS as Administrators, Beneficiaries cum Trustees of the Estate of LATE MUSEDIQ OLADEGA ALOGBA hereby CONFIRMS that whom they represents herein have a CLEAN TITLE to the land mentioned in paragraph 1:2 herein assigned and covenant that the ASSIGNEE shall have a quiet and peaceable enjoyment of the same.
- The ASSIGNORS further covenant that the Beneficiaries of the Estate of LATE MUSEDIQ OLADEGA ALOGBA which they represents herein shall INDEMNIFY the ASSIGNEE for all LOSSES that many hereafter be suffered by the ASSIGNEE due to any defect in the title hereby ASSURED by the ASSIGNORS.
5 FURTHERMORE, the ASSIGNORS hereby agreed with the ASSIGNEE to render all necessary assistance to the ASSIGNEE in the perfection of its title over the “ALL THAT Portions of land known as Plot or No …………………………………….., Ebute, Ikorodu, Lagos State measuring approximately 6557.589 square metres including the Mosque more particularly shown on Survey Plan no ………………………………. drawn by ………………………………… Registered Surveyor” without any other strong attached.
- In the ALTERNATIVE, the ASSIGNORS doth hereby IRREVOCABLY APPOINT the ASSIGNEE as the TRUE and LAWFUL ATTORNEY in respect of “ALL THAT Portions of land known as Plot or No ………………………………………. Ebute, Ikorodu, Lagos State measuring approximately 6557.589 square metres including the Mosque more particularly shown on Survey Plan no …………………………… drawn by Registered Surveyor” herein assigned unto the ASSIGNEE and grant to the ASSIGNEE full power to deal with the same as the ASSIGNEE may deem fit.
- the ASSIGNEE hereby undertakes to pay all Government levies inclusive of land charges that maybe imposed by the Lagos State Government from time to time upon ALL THAT Portions of land known as plot or No. …………………………………….. Ebute, Ikorodu, Lagos State measuring approximately square metres including the Mosque more particularly shown on Survey Plan no………………………………… drawn by ………………………. Registered Surveyor”
IN WITNESS WHEREOF the parties herein have hereunto set their hands and seals unto this Vesting Deed of Assignment the day and year first above written.
SIGNED, SEALED AND DELIVERED
By the within named ASSIGNORS
OLOLADE ALOGBA OMONIYI ………………………………………
OLUWAFUNMILAYO TAYIBAL ALOGBA ANJORIN………………..
BABAWALE BISIRITU ALOGBA ………………………………………
LATIFAT ABIMBOLA ALOGBA ADENEKAN………………………….
In the presence of
NAME…………………………………………………………………
ADDRESS: …………………………………………………………..
SIGNATURE: ………………………………………………………….
SIGNED, SEALED AND DELIVERED
By the within named ASSIGNEE
………………………………… ………………………………………
BAKARE K. AKINJIDE ESQ. BABALOLA I. REMI
In the presence of
ALHAJI H.M AMUSA
CHAIRMAN NASFAT IKORODU BRANCH
ALHAJI MONZOR OLOWOSAGO
CHAIRMAN COUNCIL OF ELDERS
I CONSENT TO THIS TRANSACTION
.…………………………………………………………………………
HON. ATTORNEY GENERAL & COMMISSIONER FOR JUSTICE