DR. MRS. MAGARET IVY AMOAKOHENE vs MAXWEL KOFI AMOAKOHENE

I have heard both parties and also read the respective addresses on the valuation report filed by the parties.

The valuation report prepared and issued on by the Land Valuation Division of the Lands Commission fixed the market value for the property at GH¢560, 300, 00 and the Forced Sale Value of the subject property at GH¢420, 225. 00. Counsel for Respondent has informed the court to take into consideration a loan of GH¢30, 000. 00 taken by the Respondent to as a mortgage to support the construction of the house.

From the Land Certificate attached to the Valuation Report, the property was registered in the joint names of the parties herein on 11th November, 1996 and registered on 12th June, 2003. The Petitioner is disputing the loan or the mortgage taken by the Respondent in 2008. I am of the considered opinion that the property was registered in the joint names of the parties as far back as 12th June, 2003 and any mortgage on the property should be taken in the joint names of the parties and not in the name of only the Respondent.

I am satisfied that the issue of the mortgage cannot be taken into consideration and also diminutive of the Petitioner’s interest. With respect to the valuation report, I have seen that the outer house was considered as part of the house but Exhibit CW1 disclosed that it is in bad state and the plywood board have been removed and furthermore, the painting of the building is peeling out.

I am satisfied that expert opinion is a guide but I must assign a reason why I am not using the fixed value the market value.

Looking at the nature of the property as shown in Exhibit CE”1”. I am of the opinion that I should take a figure which is higher that the Forced Sale value but below the market value.

I hereby fix the value of the house for Five Hundred Thousand Ghana Cedis (GH¢500, 000. 00) and the Respondent is given the first option to buy out the Petitioner’s interest.

SGD)

DENNIS ADJEI, J. A

JUSTICE OF THE APPEAL COURT