Proprietary Of Wills In The Nigeria Property Sector. - Properties - Nairaland
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| Proprietary Of Wills In The Nigeria Property Sector. by Treash(op): 12:18pm On May 06, 2020 |
Treash:
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| Re: Proprietary Of Wills In The Nigeria Property Sector. by ArcToyin(m): 7:41pm On May 06, 2020 |
Is very educative. Tell us more. |
| Re: Proprietary Of Wills In The Nigeria Property Sector. by Treash(op): 8:34pm On May 06, 2020 |
Treash: |
| Re: Proprietary Of Wills In The Nigeria Property Sector. by Treash(op): 12:40pm On May 09, 2020 |
One of the factors that gives validity to a Will is the ability of the testator to be of "Sound mind". Sound mind simply means the testator must not be suffering from any form of mental delusion, either by drunkenness, insanity or any other form. There are three criteria for ascertaining whether a Testator had the requisite disposing mind for making a Will: �The Testator must ascertain the nature and effect of the Will. �The Testator must be able to properly identify all the properties constituting his estate which he is giving out. �The Testator must be able to identify the object of his bounties; that is he must identify all his beneficiaries. One of the most important things to provide for in your Will are who will be your executors and who will be the beneficiaries of your assets. You should consider who you want to be the executor of your Will (the person that your Will appoints to manage and distribute your estate). The executors will be in charge of carrying out your wishes, so they should be responsible and trustworthy. It is preferable that you appoint two people to be executors, in case one of them dies before you do. It is advisable that before a testator gives out his properties to beneficiaries, indebtedness must be settled the otherwise with may affect the proprietary or otherwise of the gift. Barr. Adeolu Ayo Aderinto Credit: Lawyers chronicles. |
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