>= UNIVERSITY OF LusaKa SCHOOL OF LAW L411- CONVEYANCING AND LEGAL DRAFTING FINAL EXAMINATION TUESDAY, 7 DECEMBER 2021 09:00-12:00 HOURS TIME ALLOWED: 3 HOURS PLUS 5 MINUTES READING TIME INSTRUCTIONS TO CANDIDATES 1. Check that you have the correct examination paper in front of you. 2 ‘The paper consists of SIX (6) questions. Answer QUESTION ONE (1) which is COMPULSORY and ANY OTHER THREE (3) QUESTIONS. 3. All answers must be written in the answer booklets provided only. 4. Write down the number of questions attempted on the cover page. 5. Begin answering each question on a new page. 6. Candidates are NOT permitted to bring into the examination room clean any materials. % There shall be no communication among students during the examination. Any attempt to make such communication will lead to disqualification. DO NOT TURN THIS PAGE UNTIL TOLD TO DO SO BY THE INVIGILATORQuestion 1 [compulsory] Marshal Moonga is an established property owner through his company Moonga and Sofs Limiiad He Fas been looking o expand his empire by acquiring a property which has recently come on the market from Mulekwa Zulu who has recently relocated to the United Kingdom. The purchase price has been agreed at K2,000,000.00 for the property known as No. 1 Sable Road, Kabulonga. Mulekwa Zulu holds a direct lease from the president dated 12" February, 1989. The lease commenced on 1* January, 1989 for a term of 99 years. Because Mulekwa has relocated, He has given Chanda Chubo-a power of Attorney dated 1* July 2021 to transact on his behalf. The necessary consent fo assign has been obtained and property transfer tax duly paid. You principle, Mr Phiri of Unilus Chambers has asked you to draft the following clause that need to be included in an incomplete assignment received from the Purchaser. a. The Dates clause and parties clause [5 marks] * b. The Recitals and the schedule to the assignment [10 marks]* c. The attestation Clause [5 marks] 8 4. List the documents, including the fees payable that you would lodge with the Lands and Deeds Registry in order to register your assignment. [5 marks] [Total: 25 Marks] Question 2 i. You act for Zamunda Commercial Bank Limited who had issued a mortgage to Sarah Daka. Sarah has since paid the mortgage in full a. Draft a Discharge of Mortgage [13 marks] b. Prepare a Lodgement Schedule showing all documents and disbursements for the discharge of mortgage (6 marks] ii, Discuss briefly the following a. Tenancy at will [2 marks] b. Tenancy at sufferance [2 marks] Yearly tenancy (2 marks] [Total: 25 marks] Question 3 7, s Choolwe Trading Limited owns a chain of warehouses, shops and offices on Plot No 30405 Choma, Lisa Moono wants to lease one of the warehouses and adjacent offices located on Zimba Road for K10,000.00 monthly payable quarterly in advance. Lisa’s visitors, workers and clients are allowed to use the lavatories on the rear of the property and the parking at the front of the building at no additional cost. The lease is for a period of 3 years from 1* October 2021, with a rent escalation clause of 10% per annum compound a. Draft the Consideration, Demise, Parcels, and Habendum clauses of the lease [10 marks] Please turn overb. Draft the Reddendum clause and the attestation clause for this lease. [8 marks] ¢. Prepare the lodgement schedule including disbursements for the registration of this lease [9 marks] [Total: 25 Marks] Question 4 : Mwelwa Chanda has recently agreed to sale a property known as Sub D of Farm 1616 Lusaka for K4,000,000 to Jumo Mwanza. He gives you the following instructions to include in the draft contract of sale. i. The Purchaser will pay 50% of the property transfer tax with the Vendor paying the rest ji, Possession of the property will be given on execution of the Contract of Sale iii. No interest will be payable on the outstanding balance iv. The Vendor will pay the cost of Surveying the subdivision v. The signing of the contract will take place at the Vendor's Advocates’ Office Draft the special condition to effect your Client’s instruction above. Use your imagination to fill in any missing information [25 Marks] Question 5 Johnny Jacobs is selling his property, Lot No. 122 at a price of K900,000.00 to Mulekwa Moonga. Mulekwa took possession of the property on 1% July, 2021 Completion is set to take place on 31* December 2021. The purchase price is to be paid in Three (3) equal instalments on 1% January, 1° July and 31% December, 2021 respectively. Exchange of contract was done on 1 January, 2021. Council rates of K 1,000.00 per half year have already been paid by Johnny for 2021. The property was subject to a lease and the tenant has already paid rent for the whole year at K2000 per month. Draft a completion statement show how you will capture the transaction details. [25 Marks] Question 6 a) Briefly discuss what a Trust is and the registration requirement of a Trust. [10 marks] b) Draft the charging Clause of the Mortgage Deed ( that is the consideration, the demise, the parcels and habendum clauses) [15 marks] [Total: 25Marks] END OF EXAMINATION PAPER