Section 125 Property and Conveyancing Law of the Western Region of Nigeria 1959

Section 125 of the Property and Conveyancing Law of the Western Region of Nigeria 1959 is about Regulation of exercise of power of sale. It provides as follows:

A mortgagee shall not exercise the power of sale conferred by this Law unless
and until=
(i) Notice requiring payment of the mortgage money has been served on the
mortgagor or one of two or more mortgagors, and default has been made in payment of the mortgage money, or of part thereof, for three months after such service; or

(ii) Some interest under the mortgage is in arrear and unpaid for two months after becoming due; or

(iii) There has been a breach of some provision contained in the mortgage deed or in this Law, or in an enactment replaced by this Law, and on the part of the
mortgagor, or of some person concurring in making the mortgage, to be observed or performed, other than and besides a covenant for payment of the mortgage money or interest thereon.