It is however trite law that a purchaser of land who has paid and taken possession of the land by virtue of a registrable instrument which has not been registered has thereby acquired an equitable interest which is as good as legal estate. This equitable interest can only be defeated by a purchaser of the land for value without notice of the prior equity. Nsiegbe v. Mgbemena (2007) 10 NWLR pt. 1042, pg. 364, Okoge v. Dumez (Nig.) Limited (1985) 1 NWLR, pt. 4, pg. 783.
— O.O. Adekeye, JSC. Agboola v UBA (2011) – SC.86/2003