Personal Property Law in Nigeria

Introduction

Personal property law in Nigeria governs the ownership and transfer of movable property. Personal property includes tangible goods (chattels) and intangible property (choses in action).

Classification

Personal property is classified as tangible (goods, chattels) or intangible (debts, shares, intellectual property). The distinction affects the rules for transfer, security, and enforcement.

Transfer of Title

Title to goods may be transferred by sale, gift, or operation of law. The nemo dat rule provides that a seller cannot transfer better title than they possess.

Security Interests

Personal property may be used as collateral for loans through security interests.

Conclusion

Personal property law in Nigeria facilitates commerce by providing clear rules for the ownership and transfer of movable assets and the creation of security interests.