Dead tycoon wins battle to retain Sh75 million property

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Dead tycoon wins battle to retain Sh75 million property
Mourners carry the casket containing the remains of  Said Abdalla Azubedi for burial on February 26, 2019. [File/Standard]

A dead man has won a legal battle against a trader who wanted to dispossess him of land he bought while alive.

The late Nakuru tycoon Said Abdalla Azubedi was declared the rightful owner of a prime property he acquired for Sh75 million in 2013. 

Environment and Lands Court in Nakuru issued orders against plans by the seller, Samuel Ikumbu, to repossess it over alleged unpaid balances. 

“A mandatory and permanent injunction is hereby issued restraining the defendant (Ikumbu) by himself, servant, agent, assignees or any other persons acting on his behest from selling, transferring or interfering with the plaintiff’s (Azubedi) quiet possession and rent collection in any way howsoever, from disposing or dealing, or interfering with all that parcel of land known as Nakuru Municipality Block 5/133 and the premises thereon situated within Nakuru Town,” read the order in part. 

On July 31, 2013, Samuel Ikumbu agreed to sell a parcel of land to Said Abdalla Azubedi at Sh75 million. 

Azubedi, now deceased was to pay Sh10 million at the time of the execution of the agreement, according to the sale agreement.

He was to pay another Sh10 million within 90 days to be granted unlimited possession of the property and collection of rent from tenants from August 2013, pending clearance of Sh55 million balance. 

The Sh55 million was to be paid after a duly registered property transfer to Azubedi, the sale agreement states.

Following the agreement, Azubedi on November 1, 2013, and in compliance with the 90 days clause deposited Sh10 million to Ikumbu’s account. 

At the time of signing the sale agreement, the property was charged to Barclays Bank of Kenya Limited for a loan facility granted to Ikumbu. Ikumbu, however, promised to have the title deed discharged. 

Documents The Nairobian obtained, indicate that Ikumbu failed to comply with the terms of the agreement, forcing Azubedi to move to court in 2015. 

Azubedi, in documents filed in court, claims Ikumbu instead of complying with the terms in the sale agreement sought an extension of time and, on several occasions through his (Ikumbu’s) lawyer, sought to renege on completing part of the bargain on unreasonable excuses.

The estate of Azubedi, through lawyer Musembi Ndolo, claims Ikumbu, on May 25, 2017, intimidated to rescind the sale agreement and refund the deposit already paid.

Ikumbu threatened to take possession of the property, an action Azubedi protested.

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