Section 47 Mortgage and Property Law of Lagos State Section 47 of the Mortgage and Property Law of Lagos State 2010 is about Reconveyances of mortgages by indorsed receipts. It provides as follows: (1) A receipt indorsed on, written at the foot of, or annexed to a mortgage deed for all money secured by it,…

Section 46 Mortgage and Property Law of Lagos State Section 46 of the Mortgage and Property Law of Lagos State 2010 is about Transfer of mortgages. It provides as follows: (1) A deed executed by a mortgagee purporting to transfer his mortgage or the benefit of it shall, unless a contrary intention is expressed, and…

Section 45 Mortgage and Property Law of Lagos State Section 45 of the Mortgage and Property Law of Lagos State 2010 is about Notice of trust affecting mortgage debts. It provides as follows: (1) A person dealing in good faith with a mortgagee, or with mortgagor if the mortgage has been discharged, released or postponed…

Section 44 Mortgage and Property Law of Lagos State Section 44 of the Mortgage and Property Law of Lagos State 2010 is about Effect of advance payment on joint account. It provides as follows: (1) Where(a) in a mortgage or an obligation for payment of money or a transfer of a mortgage or of such…

Section 43 Mortgage and Property Law of Lagos State Section 43 of the Mortgage and Property Law of Lagos State 2010 is about Appointment powers, remuneration and duties of receiver. It provides as follows: (1) A mortgagee entitled to appoint a receiver after obtaining an order of a high court under powers conferred by this…

Section 42 Mortgage and Property Law of Lagos State Section 42 of the Mortgage and Property Law of Lagos State 2010 is about Amount and application of insurance money. It provides as follows: (1) The amount of an insurance effected by a mortgagee against loss or damage by fire under the power in that behalf…

Section 41 Mortgage and Property Law of Lagos State Section 41 of the Mortgage and Property Law of Lagos State 2010 is about Mortgagee’s receipts, discharge, etc. It provides as follows: (1) The receipt in writing of a mortgagee shall be a sufficient discharge for any money arising under the power of sale conferred by…

Section 40 Mortgage and Property Law of Lagos State Section 40 of the Mortgage and Property Law of Lagos State 2010 is about Exercise of the power of sale. It provides as follows: (1) The power of sale conferred by this Law may be exercised by any person for the time being entitled to receive…

Section 39 Mortgage and Property Law of Lagos State Section 39 of the Mortgage and Property Law of Lagos State 2010 is about Application of proceeds of sale. It provides as follows: The money which is received by the mortgagee, arising from sale, after discharge of prior encumbrances t which the sale is not made…

Section 38 Mortgage and Property Law of Lagos State Section 38 of the Mortgage and Property Law of Lagos State 2010 is about Assignment on sale. It provides as follows: (1) A mortgagee exercising the power of sale conferred by the law shall have power, by deed to assign the property sold, for such estate…