Section 65 Mortgage and Property Law of Lagos State

Section 65 of the Mortgage and Property Law of Lagos State 2010 is about Interest in land. It provides as follows:

(1) The only estates in land which are capable of subsisting or of being a subject matter of a mortgage under this law or create at law are –
(a) a right of occupancy absolute in possession evidenced in writing by a statutory or customary right of occupancy issued under the Land Use Act or
any other state Land Law;

(b) registered land under the registration of Tittles Law;
(c) term of years absolute

(2) The only interest or charge in or over land which are capable of subsisting or of being created under this law is a charge by deed expressed to be by way of legal mortgage, or by a charge by deed expressed to be by way of statutory mortgage in the forms provided by this Law.

(3) All other estates, interests, and charges in or over land shall take effect as equitable interests.

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