U.C.B V Mrs. Bushuyu (Administratrix of the estate of John Wilson Bushuyu)
U.C.B V Mrs. Bushuyu (Administratrix of the estate of John Wilson Bushuyu) (Civil Suit No. 123 of 1994) [1994] UGHC 2 (19 October 1994)
The court found that the loan to Fremi Agencies Ltd was indeed secured by the deposit of the certificate of title of the property on Plots 28 and 28A Kabale Road, with the authority of the late John Wilson Bushuyu, as evidenced by the power of attorney and supporting documentation. However, the mortgage was not registered under the Registration of Titles Act, nor was a caveat entered. According to the law and precedent, an equitable mortgage created by deposit of title is not enforceable unless registered. The absence of registration or caveat means the plaintiff cannot enforce foreclosure or…
Source excerpt
- Equitable Mortgage
- Registration Of Mortgage
- Loan Security
- Foreclosure
- Power Of Attorney
- Enforcement Of Security