A. OBLIGATIONS OF SELLER AND PURCHASER
- The title available to a purchaser of plot is a Sub-Lease.
- The Sub-Lease is granted by Owerri North Housing Estates Limited/Umuorii Rainbow Estates Limited in which the rights of occupancy of the Estate vest by virtue of the Judgment of Owerri High Court in Suit No. HOW/320//2006 given on 10th July 2007 and registered as NO. 31/31/948 of the Lands Registry at Owerri.
- The Sub-Lease is granted for 60 Years, but it automatically renews every other 60 years.
- The Legal Department of Owerri North Housing Estates Limited/Umuorii Rainbow Estates Limited handles and processes title documentation and registration. The policy is designed to eliminate all typical purchaser sharp practices experienced in the past.
- Surveyors of Owerri North Housing Estates Limited/Umuorii Rainbow Estates Limited any handle all plot surveys and changes in title. That is also to thereby eliminate typical purchaser sharp practices experienced in the past.
- good and effective professional management of the Estate is done by the General Manager and his team of professional staff.
- Owerri North Housing Estates Limited/Umuorii Rainbow Estates Limited exists to secure the integrity of the Estate and to professionally manage it, and undertakes to enforcing the terms of every Sub-lease granted by it.
OBLIGATIONS OF SUB-LESSEE TO LESSOR
- Every sub-lessee/plot owner must keep to terms of his sublease or risk forfeiture. The policy of the Management would include resorting to legal or punitive actions to restrain violations of the terms of the sub-lease.
- Every sub-lessee/plot owner must follow his building plan as approved by Owerri Capital Development Authority and not alter it at any time without approval.
- The approved building form must be respected as haphazard developmental actions will not be allowed.
- Involvement of sub-lessee/plot owner or his tenant in serious crimes will lead to owner’s forfeiture of his sublease and could include eviction or demolition of plot if drugs, gaming, prostitution, human trafficking, night clubbing, hotel lodging/accommodation, robbery and kidnapping are involved.
- Only fencing patterns which meet approved security standards set for the Estate will be allowed. Uniformity in fencing pattern throughout the Estate is required.
- No part of the Estate will be allowed to become a den for criminality. As a result of this, all sub-lessee/lot owners would undertake from the beginning that their premises can be inspected at any time for security compliance.
- Security of lives and property in the Estate will remain joint responsibility of all in the Estate.
- Estate unionism will remain prohibited.
