Section 1 Mortgage and Property Law of Lagos State

Section 1 of the Mortgage and Property Law of Lagos State 2010 is about Establishment of the Lagos State Mortgage Board. It provides as follows:

(1) There is established a Board to be known as the Lagos State Mortgage Board (referred to in this Law as “the Board”).

(2) The Board shall –
(a) be a body corporate with perpetual succession and a common seal;
(b) have power to sue and be sued in the corporate name; and
(c) have power to hold, purchase, acquire and dispose of any property whether movable or immovable.