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Book on Law of Mortgages launched

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A book authored by a legal practitioner and Law Lecturer at the University of Ghana Law School, Lawyer Godwin Djokoto, titled: “The Law of Mortgages in Ghana,” has been launched in Accra to assist financial institutions and other entities in their activities on mortgaging.

The book seeks to fill the gap in the legal landscape due to the absence of books solely devoted to discussions on the law of mortgages in the Ghana.

Addressing the audience who were mainly lawyers, bankers, law students and other professionals at the launch, Lawyer Djokoto explained that using immovable properties as security for loans and other obligations played a critical role in the country’s economy, especially where non-performing loans were on the ascendancy.

According to him, his experience as a former banker and legal practitioner had contributed to enriching his knowledge in writing the book—both in theory and practical.

He indicated that the book contained a number of Ghanaian cases on mortgages, which were adapted to the Ghanaian situation.

Launching the book, a Justice of the Supreme Court, Justice Sulley Gbedebge, commended the author for writing the book, which he said, would contribute to finding solutions to legal issues in mortgaging in both the private and the public sectors.

Lawyer Godwin Djokoto holding a copy of the book

“It is gratifying that a dedicated book on mortgage has come to fruition today after a long wait. This will go a long way to benefit those in the legal profession and the financial institutions in the country,” he noted.

Justice Gbedebge, therefore, commended Lawyer Djokoto for making the book user-friendly by avoiding the use of strict legal language.

The book is divided into 10 chapters with chapter one dealing with definitional element and essential elements of mortgage, while chapter two explores the historical contours of mortgages, tracing its evolution from Ancient Roman times through its development and how it was received in Ghana.

Chapter three discusses the various ways by which mortgage is operated under the Ghanaian law legally, equitably and customarily; and chapter five addresses the remedies available to the mortgagee in the event of default.

Chapter six discusses competing claims over which mortgage properties were undertaken and the technical concepts relating to it, while chapter seven deals with the transfer of mortgages by both the transferor and the transferee.

Chapter 10 focuses on the efficacies of mortgage action and discusses the practitioners’ dilemma of how to commence a mortgage action.

 

Story: Franklin Asare-Donkoh

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