Section 49 Land Registration Law (LRL) Lagos State 2015

Section 49 of the Land Registration Law (LRL) of Lagos State 2015 provides as follows:

(1) The holder of any land, sub-lease or mortgage under this Law may by a document in the prescribed form create a mortgage to secure the payment of a debt, or the fulfilment of any condition, and the document creating the mortgage may be registered as an encumbrance.

(2) A mortgage that is registered under this Section shall have effect as security only.

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