MRS. AGNES OSEI vs. A-LIFE CO. LTD., FIRST ATLANTIC MERCHANT BANK LTD.

GERTRUDE TORKORNOO, J. A: The statutes around which this dispute rages are the Mortgages Act 1972 NRCD 96, the Land Title Registration Law, 1985, PNDC Law 152 and Land Registry Act 1962 Act 122. One Mrs. Agnes Gertrude Osei, the Respondent herein commenced suit number L305/2002 in the High Court as plaintiff and against A-Life Co Ltd & Another as defendants. She obtained judgment on 13th June 2008 and in her capacity as judgment creditor, attached property known as Plot No 17 and 17a Park Avenue Teshie Nungua Estates. First Atlantic Merchant Bank, the Appellant herein, filed a notice of claim to the attached property which was disputed by the judgment creditor. In their affidavit of interest attaching the said Legal Mortgage, counsel for Appellant stated that ‘the attached property is the subject of a legal mortgage dated 25th August 2005 and made between A-Life Company Ltd as the Mortgagor therein and the Claimant herein, after consent has been secured from the State Housing Corp.....