EQUITABLE MORTGAGE OF REGISTERED LAND

Equitable Mortgage of Registered Land– 

applies in the RTL areas of Lagos. It is

effected by a charge and this is achieved by completing the relevant Form which is Form 15. See section 59 (1) RTL, Lagos, which provides thus:

“The deposit by the registered owner of land or a charge of his Certificate of Title with the intention of mortgaging his land or charge shall have the same effect as does the deposit of the title deeds of an unregistered land or a mortgage deed of an unregistered land with the same intention.”

To be continued with ADVANTAGES OF EQUITABLE MORTGAGE 

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