DFCU v Uganda Signs Limited &2 Others (Originating Summons 17 of 2018)
DFCU v Uganda Signs Limited &2 Others (Originating Summons 17 of 2018) [2022] UGCommC 176 (20 December 2022)
The court found that the applicant had established the existence of an equitable mortgage by deposit of the certificate of title and registration of a caveat, following the nullification of the legal mortgage. The applicant demonstrated that the respondents remained indebted in the sum of Ugx 63,706,433/= as at 12/11/2008, and that the statutory procedure for foreclosure under section 8 of the Mortgage Act was applicable. The court ordered the 1st respondent to pay the outstanding amount within two months, failing which the applicant may seek foreclosure. The absence of a substantive defence…
Source excerpt
- Equitable Mortgage
- Foreclosure Procedure
- Security Interest Enforcement
- Deposit Of Title
- Caveat Registration