As observed by the Privy Council in Gibbs v. Messer (1891) A.C. 248 at 254, per Lord Watson delivering the judgment of the Board in regard to a similar law as to registration of title: “The object is to save persons dealing with registered proprietors from the trouble and expense of going behind the register, in order to investigate the history of their author’s [i.e. vendor’s] title, and to satisfy themselves of its validity. That end is accomplished by providing that everyone who purchases in bona fide and for value, from a registered proprietor, and enters his deed of transfer or mortgage on the register, shall thereby acquire an indefeasible right, notwithstanding the infirmity of his author’s title.”
IMPROPER SALE DOES NOT VITIATE TITLE OF SUBSEQUENT PURCHASER
I need to stress here that a mortgagee’s power of sale becomes exercisable if it has arisen and once it has so arisen, the title of the subsequent purchaser will not be affected by its improper or irregular exercise and the sale will be regarded valid. See MAJEKODUNMI & ORS V. CO-OP BANK LTD (1997)...