U.C.B V Mrs. Bushuyu (Administratrix of the estate of John Wilson Bushuyu) (Civil Suit No. 123 of 1994)
Observed later treatment
No later-treatment classification is recorded for this judgment.
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Holding
An equitable mortgage created by deposit of a certificate of title with intent to create security cannot be enforced unless registered under the Registration of Titles Act. Although the court found that the loan was secured by an equitable mortgage over the deceased's property created through deposit of the certificate of title with the bank's authority via power of attorney, the bank's failure to register the mortgage by entering a caveat under s.138 of the Registration of Titles Act rendered the mortgage unenforceable. The suit for foreclosure and sale was dismissed with costs to the defendant.
Outcome
Suit dismissed for failure to register the equitable mortgage under the Registration of Titles Act
Facts
Uganda Commercial Bank granted a loan to FREMI Agencies Ltd on 6 November 1988 secured by property on plots 28 and 28A Kabale Road belonging to John Wilson Bushuyu. The certificate of title was deposited with the bank under a power of attorney executed by Bushuyu appointing FREMI Agencies Ltd as his attorney to mortgage the property. The borrower defaulted on loan repayment. The certificate of title later went missing from the bank due to document confusion following branch amalgamation. The bank brought suit by originating summons against the administratrix of Bushuyu's estate seeking foreclosure and sale. The defendant denied knowledge of the loan, the company, and the deposit of the certificate of title, asserting that the duplicate certificate had always been in their residence.
Issues
- Whether the plaintiff, after default of loan repayment, is entitled to foreclosure and sale of the mortgaged property to realise the principal, interest and costs.
- Whether the loan was secured by a mortgage of the defendant's property with the consent, authority and power of attorney of the late John Wilson Bushuyu.
- Whether the failure to repay the loan is evidenced by the bank statement annexed to the plaintiff's affidavit.
- Whether an equitable mortgage created by deposit of certificate of title can be enforced without registration under the Registration of Titles Act.
Orders
- Suit dismissed.
- Plaintiff to pay costs of the suit to the defendant.
Rules and key headnotes
Legislation cited (6)
- Civil Procedure Rules O.34 r.7
- Mortgage Decree 17/74 s.7
- Mortgage Decree 17/74 s.8
- Registration of Titles Act s.138
- Mortgage Decree 17/74 s.18
- Registration of Titles Act s.148
Cases cited (1)
- D. Jakana v C. Senkandi (1988-90) HCB 167
Full judgment
The original judgment as reported. Read the original PDF before relying on any passage.