Description

Conveyancing

1. Prestige property limited is registered as the proprietor as lessee from the Government of Kenya of all that property known as Land Reference

No.209/8595/975 and registered as IR.NO.71717 measuring  approximately 10 acres. The property is situated in Nairobi County and borders  Ngong forest on one side.

Prestige property limited is in the process of developing 45 4-bedroomed luxurious apartments on the property known as Refreshing Springs  Apartments.

Neema Waite was introduced to Dan Muliro, a director of Prestige Property Limited by her brother. The meeting resulted in an agreement  for sale dated Pt November, 2015 between Neema as the purchaser and Prestige  Property Limited as the vendor. Neema decided to buy one of the apartments off-plan based  on the

building plans and brochures. The purchase price of each apartment  is Kshs.50 million. The agreement for sale was prepared by Brown & Brown Advocates on behalf of the vendor. The firm of Jay & Jay Advocates was acting for the  purchaser. The purchaser paid a deposit of Kshs.5 million and applied for a loan from

Kashmani Bank Limited of Kshs.45 million. The firm  of Wema & Company Advocates is acting for the bank in the transaction.

1. a) Explain the role of each advocate in the transaction until

(10 marks) b) What is the cost implication of the transaction to the purchaser?      (4 marks)

1. c) Identify the title documents in this transaction. (1 mark)