A book on “The Law of Mortgages in Ghana” launched

Accra, Oct. 20, GNA - A book authored by Mr Godwin Djokoto, a Legal Practitioner, titled; “The Law of Mortgages in Ghana” was launched in Accra on Friday 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 country.

Mr Djokoto said 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.    

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

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

He said it was gratifying that Mr Djokoto had chosen to write on mortgages as the work benefit those in the legal profession and the financial institutions in the country.

He commended Mr Djokoto for making the book user-friendly by avoiding the use of strict legal language.

The book was divided into 10 chapters with Chapter One dealing with definitional element and essential elements of a 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 a 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 property 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.

GNA

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