Section 113 Property and Conveyancing Law of the Western Region of Nigeria 1959

Section 113 of the Property and Conveyancing Law of the Western Region of Nigeria 1959 is about Realization of equitable charges by the court. It provides as follows:

(1) Where an order for sale is made by the court in reference to an equitable
mortgage on land (not secured by a legal term of years absolute or by a charge by
way of legal mortgage) the court may, in favour of a purchaser, make a vesting order
conveying the land or may appoint a person to convey the land or create and vest in
the mortgagee a legal term of years absolute to enable him to carry out the sale, as
the case may require, in like manner as if the mortgage had been created by deed by way of legal mortgage pursuant to this Law, but without prejudice to any
incumbrance having priority to the equitable mortgage unless the incumbrancer
consents to the sale.

(2) This section applies to equitable mortgages made or arising before or after the
commencement of this Law, but not to a mortgage which has been over-reached under the powers conferred by this Law or otherwise.