DR. MRS. MAGARET IVY AMOAKOHENE vs MAXWEL KOFI AMOAKOHENE

This case involves a property valuation dispute between a Petitioner and Respondent over a jointly owned property. The Land Valuation Division of the Lands Commission provided a valuation report setting the market value at GH¢560,300.00 and the Forced Sale Value at GH¢420,225.00. The Respondent claimed a GH¢30,000.00 mortgage on the property, which the Petitioner disputed. The court, presided over by Justice Dennis Adjei of the Appeal Court, considered several factors in making its decision. First, it determined that the mortgage claimed by the Respondent could not be considered, as any mortgage on a jointly owned property should be in the names of both parties. Second, while acknowledging the expert valuation, the court decided to deviate from the market value due to the deteriorating condition of the property, which was not fully reflected in the valuation report. The court fixed the value of the house at GH¢500,000.00, a figure between the Forced Sale Value and the market value. Finally, the court granted the Respondent the first option to buy out the Petitioner's interest at this valuation. This decision demonstrates the court's discretion in property valuation cases, considering factors such as joint ownership rights, the actual condition of the property, and the balance between expert valuations and the court's own assessment.