{"id":2207,"date":"2019-11-09T02:47:02","date_gmt":"2019-11-09T02:47:02","guid":{"rendered":"http:\/\/projectstore.com.ng\/?p=2207"},"modified":"2019-11-09T02:47:02","modified_gmt":"2019-11-09T02:47:02","slug":"an-examination-of-the-legal-implications-of-mortgages-as-collateral-in-nigeria","status":"publish","type":"post","link":"https:\/\/lawstudentprojectpdf.projectstore.com.ng\/an-examination-of-the-legal-implications-of-mortgages-as-collateral-in-nigeria\/","title":{"rendered":"AN EXAMINATION OF THE LEGAL IMPLICATIONS OF MORTGAGES AS COLLATERAL IN NIGERIA"},"content":{"rendered":"<h1><span class=\"ez-toc-section\" id=\"AN_EXAMINATION_OF_THE_LEGAL_IMPLICATIONS_OF_MORTGAGES_AS_COLLATERAL_IN_NIGERIA\"><\/span>AN EXAMINATION OF THE LEGAL IMPLICATIONS OF MORTGAGES AS COLLATERAL IN NIGERIA<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<h1><span class=\"ez-toc-section\" id=\"ABSTRACT\"><\/span>ABSTRACT<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<p>The challenge identified by this research was the manner of collaterisation of credits by financial institutions. It was discovered that due to the volume of funds available at the disposal of financial institutions as a result of the consolidation exercise and stiff competition towards making substantial margin of profits, some financial institutions often comprise or even ignore standard in giving out credit to their customers because of a combination of factors viz:<\/p>\n<ul>\n<li>Insider credits<\/li>\n<li>Desire to make huge profits<\/li>\n<li>Political reasons<\/li>\n<li>Ethnic considerations<\/li>\n<\/ul>\n<p>Thus, as a result of the above factors, financial institutions often get saddled with lots of bad debts which usually militate against the growth of an organization with the likelihood of distress and corporate failure since the credits were not given based on business considerations. To arrest this situation, regulatory authorities like the Central Bank of Nigeria and the Nigeria Deposit Insurance Corporation should commence the enforcement of the provisions of the Banks and Other Financial Institutions Act which provides for various categories of offences and penalties relating to Bank officers who give credit facilities that were supposed to be backed by security, without such securities.<\/p>\n<h4><span class=\"ez-toc-section\" id=\"CHAPTER_ONE_INTRODUCTION_10_General_Introduction_%E2%80%A6_%E2%80%A6_1_11_Statement_of_the_Research_Problem_%E2%80%A6_%E2%80%A6_2_12_Aims_and_Objectives_of_the_Research_%E2%80%A6_%E2%80%A6_3_13_Scope_of_the_Research_%E2%80%A6_%E2%80%A6_3_14_Research_Methodology_%E2%80%A6_%E2%80%A6_4_15_Literature_Review_%E2%80%A6_%E2%80%A6_4_16_Justification_%E2%80%A6_%E2%80%A6_5_17_Organizational_Layout_%E2%80%A6_%E2%80%A6_5\"><\/span>CHAPTER ONE: INTRODUCTION<br \/>\n1.0 General Introduction \u2026 \u2026 1<br \/>\n1.1 Statement of the Research Problem \u2026 &#8230; 2<br \/>\n1.2 Aims and Objectives of the Research \u2026 \u2026 3<br \/>\n1.3 Scope of the Research \u2026 &#8230; 3<br \/>\n1.4 Research Methodology \u2026 \u2026. 4<br \/>\n1.5 Literature Review \u2026 \u2026. 4<br \/>\n1.6 Justification \u2026 \u2026. 5<br \/>\n1.7 Organizational Layout \u2026 \u2026. 5<span class=\"ez-toc-section-end\"><\/span><\/h4>\n<h4><span class=\"ez-toc-section\" id=\"CHAPTER_TWO_NATURE_OF_LENDING_RELATIONSHIP\"><\/span>CHAPTER TWO: NATURE OF LENDING RELATIONSHIP<span class=\"ez-toc-section-end\"><\/span><\/h4>\n<h4><span class=\"ez-toc-section\" id=\"21_Introduction_to_Loans_Debts_and_Credit_%E2%80%A6_%E2%80%A6_7_211_Loans_%E2%80%A6_%E2%80%A6_7_212_Debts_%E2%80%A6_%E2%80%A6_7_213_Credit_%E2%80%A6_%E2%80%A6_8_214_Distinction_between_Loans_and_Debts_%E2%80%A6_%E2%80%A6_8_The_Importance_of_Distinction_between_Loans_and_other_Forms_of_Credit_Transactions_%E2%80%A6_%E2%80%A6_9\"><\/span>2.1 Introduction to Loans, Debts and Credit \u2026 \u2026. 7<br \/>\n2.1.1 Loans \u2026 \u2026. 7<br \/>\n2.1.2 Debts \u2026 \u2026. 7<br \/>\n2.1.3 Credit \u2026 \u2026. 8<br \/>\n2.1.4 Distinction between Loans and Debts \u2026 \u2026. 8<br \/>\nThe Importance of Distinction between Loans and other Forms<br \/>\nof Credit Transactions \u2026 \u2026. 9<span class=\"ez-toc-section-end\"><\/span><\/h4>\n<h4><span class=\"ez-toc-section\" id=\"Characteristics_of_a_Loan_%E2%80%A6_%E2%80%A6_10\"><\/span>Characteristics of a Loan \u2026 \u2026. 10<span class=\"ez-toc-section-end\"><\/span><\/h4>\n<h4><span class=\"ez-toc-section\" id=\"Types_of_Loans_%E2%80%A6_%E2%80%A6_11\"><\/span>Types of Loans \u2026 \u2026 11<span class=\"ez-toc-section-end\"><\/span><\/h4>\n<h4><span class=\"ez-toc-section\" id=\"Bad_DebtsLoans_%E2%80%A6_%E2%80%A6_13\"><\/span>Bad Debts\/Loans \u2026 \u2026 13<span class=\"ez-toc-section-end\"><\/span><\/h4>\n<h4><span class=\"ez-toc-section\" id=\"Effects_of_Bad_DebtsLoans_%E2%80%A6_%E2%80%A6_14\"><\/span>Effects of Bad Debts\/Loans \u2026 \u2026 14<span class=\"ez-toc-section-end\"><\/span><\/h4>\n<h4><span class=\"ez-toc-section\" id=\"CHAPTER_THREE_MEANING_AND_PURPOSE_OF_COLLATERALS_IN_LENDING\"><\/span>CHAPTER THREE: MEANING AND PURPOSE OF COLLATERALS IN LENDING<span class=\"ez-toc-section-end\"><\/span><\/h4>\n<h4><span class=\"ez-toc-section\" id=\"30_Forms_of_Collateral_%E2%80%A6_20_31_Collateral_Defined_%E2%80%A6%E2%80%A6_21_32_Purpose_and_Features_of_Collateral_%E2%80%A6_23_33_The_Mortgage_%E2%80%A6_%E2%80%A6_24_34_Steps_to_Obtaining_Legal_Mortgage_%E2%80%A6_%E2%80%A6_24_35_Types_of_Mortgages_%E2%80%A6_%E2%80%A6_28_36_Right_of_Mortgagors_%E2%80%A6_%E2%80%A6_32_37_Right_of_the_Mortgagee_%E2%80%A6_32_38_Perfection_of_Collateral_%E2%80%A6_33_39_The_Implications_of_Creating_or_Taking_Collaterals_%E2%80%A6_%E2%80%A6_36\"><\/span>3.0 Forms of Collateral \u2026.. 20<br \/>\n3.1 Collateral Defined \u2026\u2026. 21<br \/>\n3.2 Purpose and Features of Collateral \u2026 23<br \/>\n3.3 The Mortgage \u2026. \u2026. 24<br \/>\n3.4 Steps to Obtaining Legal Mortgage \u2026 \u2026. 24<br \/>\n3.5 Types of Mortgages \u2026 \u2026. 28<br \/>\n3.6 Right of Mortgagors \u2026 \u2026. 32<br \/>\n3.7 Right of the Mortgagee \u2026. 32<br \/>\n3.8 Perfection of Collateral \u2026. 33<br \/>\n3.9 The Implications of Creating or Taking Collaterals \u2026 \u2026. 36<span class=\"ez-toc-section-end\"><\/span><\/h4>\n<h4><span class=\"ez-toc-section\" id=\"CHAPTER_FOUR_THE_NATURE_OF_COLLATERAL_INTEREST\"><\/span>CHAPTER FOUR: THE NATURE OF COLLATERAL INTEREST<span class=\"ez-toc-section-end\"><\/span><\/h4>\n<h4><span class=\"ez-toc-section\" id=\"40_The_Nature_of_Collateral_Interest_%E2%80%A6_39_41_Collateral_Interest_Arising_From_Transaction_Intended_as_Collateral_Transaction_%E2%80%A6_39_42_Collateral_Interest_as_a_Right_in_Rem_%E2%80%A6_39_43_Agreement_to_give_Collateral_%E2%80%A6_40_44_Contractual_Set_Off_vis-a-vis_Collateral_%E2%80%A6_40_45_Conditions_for_Repayment_vis-a-vis_Collateral_%E2%80%A6_40_46_Enforceability_of_collateral_%E2%80%93_at_what_stage_does_the_Collateral_%E2%80%A6_41_47_Enforcement_of_the_Covenant_to_Repay_%E2%80%A6_42_48_Entering_into_Possession_43\"><\/span>4.0 The Nature of Collateral Interest \u2026. 39<br \/>\n4.1 Collateral Interest Arising From Transaction Intended as Collateral Transaction<br \/>\n\u2026.<br \/>\n39<br \/>\n4.2 Collateral Interest as a Right in Rem \u2026. 39<br \/>\n4.3 Agreement to give Collateral \u2026. 40<br \/>\n4.4 Contractual Set Off vis-\u00e0-vis Collateral \u2026. 40<br \/>\n4.5 Conditions for Repayment vis-\u00e0-vis Collateral \u2026. 40<br \/>\n4.6 Enforceability of collateral \u2013 at what stage does the Collateral<br \/>\n\u2026.<br \/>\n41<br \/>\n4.7 Enforcement of the Covenant to Repay \u2026. 42<br \/>\n4.8 Entering into Possession . 43<span class=\"ez-toc-section-end\"><\/span><\/h4>\n<h4><span class=\"ez-toc-section\" id=\"49_Collateral_Interest_Vis-a-vis_Customers_Dominance_Over_the_Assets_%E2%80%A6_44_CHAPTER_FIVE_FORM_OF_COLLATERAL\"><\/span>4.9 Collateral Interest Vis-\u00e0-vis Customer\u2019s Dominance<br \/>\nOver the Assets \u2026. 44<br \/>\nCHAPTER FIVE: FORM OF COLLATERAL<span class=\"ez-toc-section-end\"><\/span><\/h4>\n<h4><span class=\"ez-toc-section\" id=\"50_Consensus_Securities_%E2%80%A6_45_51_The_Pledge_%E2%80%A6_45_52_The_Charge_%E2%80%A6_46_53_Contractual_Lien_%E2%80%A6_46_54_Fixed_and_Floating_Collateral_%E2%80%A6_46_55_Pledge_Collaterals_%E2%80%A6_47_56_Customary_Pledge_%E2%80%A6_49_57_Creation_of_Customary_Pledge_%E2%80%A6_51_58_Negative_Pledge_Collateral_%E2%80%A6_53_59_Legal_Nature_of_Negative_Pledge_Collateral_%E2%80%A6_55_510_Taking_Security_with_Notice_of_a_Negative_Pledge_Clause_%E2%80%A6_%E2%80%A6_56_511_Contingent_Liabilities_%E2%80%A6_%E2%80%A6_57_512_Features_of_Guarantees_%E2%80%A6%E2%80%A6_%E2%80%A6_59_513_Bonds_as_Security_%E2%80%A6_%E2%80%A6_67_514_Major_Types_of_Bonds_%E2%80%A6_%E2%80%A6_67_515_The_Charges_%E2%80%A6_%E2%80%A6_72_516_The_Difference_between_a_Mortgage_and_a_Charge_%E2%80%A6_%E2%80%A6_73_517_Types_of_Charges_%E2%80%A6_%E2%80%A6_74_518_Crystallization_of_Floating_Charge_%E2%80%A6_%E2%80%A6_77\"><\/span>5.0 Consensus Securities \u2026 . 45<br \/>\n5.1 The Pledge \u2026. 45<br \/>\n5.2 The Charge \u2026. 46<br \/>\n5.3 Contractual Lien \u2026. 46<br \/>\n5.4 Fixed and Floating Collateral \u2026. 46<br \/>\n5.5 Pledge Collaterals \u2026. 47<br \/>\n5.6 Customary Pledge \u2026. 49<br \/>\n5.7 Creation of Customary Pledge \u2026. 51<br \/>\n5.8 Negative Pledge Collateral \u2026. 53<br \/>\n5.9 Legal Nature of Negative Pledge Collateral \u2026. 55<br \/>\n5.10 Taking Security with Notice of a Negative Pledge Clause \u2026 \u2026. 56<br \/>\n5.11 Contingent Liabilities \u2026 \u2026. 57<br \/>\n5.12 Features of Guarantees \u2026\u2026 \u2026.. 59<br \/>\n5.13 Bonds as Security \u2026 \u2026. 67<br \/>\n5.14 Major Types of Bonds \u2026 \u2026. 67<br \/>\n5.15 The Charges \u2026 \u2026. 72<br \/>\n5.16 The Difference between a Mortgage and a Charge \u2026 \u2026. 73<br \/>\n5.17 Types of Charges \u2026 \u2026. 74<br \/>\n5.18 Crystallization of Floating Charge \u2026 \u2026. 77<span class=\"ez-toc-section-end\"><\/span><\/h4>\n<h4><span class=\"ez-toc-section\" id=\"CHAPTER_SIX_CONCLUSION_SUMMARY_FINDINGS_AND_RECOMMENDATIONS\"><\/span>CHAPTER SIX: CONCLUSION, SUMMARY, FINDINGS AND RECOMMENDATIONS<span class=\"ez-toc-section-end\"><\/span><\/h4>\n<h4><span class=\"ez-toc-section\" id=\"Conclusion_%E2%80%A6_81_Summary_%E2%80%A6_81_Findings_%E2%80%A6_82_Recommendation_%E2%80%A6_83_BIBLIOGRAPHY_A_Textbooks_%E2%80%A6_84_B_Journals_%E2%80%A6_84_C_SeminarWorkshop_Papers_%E2%80%A6_84_D_Websites_%E2%80%A6_84\"><\/span>Conclusion \u2026 . 81<br \/>\nSummary \u2026 . 81<br \/>\nFindings \u2026 . 82<br \/>\nRecommendation \u2026 . 83<br \/>\nBIBLIOGRAPHY<br \/>\nA. Textbooks \u2026 . 84<br \/>\nB. Journals \u2026 . 84<br \/>\nC. Seminar\/Workshop Papers \u2026 . 84<br \/>\nD. Websites \u2026 . 84<span class=\"ez-toc-section-end\"><\/span><\/h4>\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_65 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<p class=\"ez-toc-title\">Page Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-663a9a13ab155\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-663a9a13ab155\"  aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/lawstudentprojectpdf.projectstore.com.ng\/an-examination-of-the-legal-implications-of-mortgages-as-collateral-in-nigeria\/#AN_EXAMINATION_OF_THE_LEGAL_IMPLICATIONS_OF_MORTGAGES_AS_COLLATERAL_IN_NIGERIA\" title=\"AN EXAMINATION OF THE LEGAL IMPLICATIONS OF MORTGAGES AS COLLATERAL IN NIGERIA\">AN EXAMINATION OF THE LEGAL IMPLICATIONS OF MORTGAGES AS COLLATERAL IN NIGERIA<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/lawstudentprojectpdf.projectstore.com.ng\/an-examination-of-the-legal-implications-of-mortgages-as-collateral-in-nigeria\/#ABSTRACT\" title=\"ABSTRACT\">ABSTRACT<\/a><ul class='ez-toc-list-level-4' ><li class='ez-toc-heading-level-4'><ul class='ez-toc-list-level-4' ><li class='ez-toc-heading-level-4'><ul class='ez-toc-list-level-4' ><li class='ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/lawstudentprojectpdf.projectstore.com.ng\/an-examination-of-the-legal-implications-of-mortgages-as-collateral-in-nigeria\/#CHAPTER_ONE_INTRODUCTION_10_General_Introduction_%E2%80%A6_%E2%80%A6_1_11_Statement_of_the_Research_Problem_%E2%80%A6_%E2%80%A6_2_12_Aims_and_Objectives_of_the_Research_%E2%80%A6_%E2%80%A6_3_13_Scope_of_the_Research_%E2%80%A6_%E2%80%A6_3_14_Research_Methodology_%E2%80%A6_%E2%80%A6_4_15_Literature_Review_%E2%80%A6_%E2%80%A6_4_16_Justification_%E2%80%A6_%E2%80%A6_5_17_Organizational_Layout_%E2%80%A6_%E2%80%A6_5\" title=\"CHAPTER ONE: INTRODUCTION \n1.0 General Introduction \u2026 \u2026 1 \n1.1 Statement of the Research Problem \u2026 &#8230; 2 \n1.2 Aims and Objectives of the Research \u2026 \u2026 3 \n1.3 Scope of the Research \u2026 &#8230; 3 \n1.4 Research Methodology \u2026 \u2026. 4 \n1.5 Literature Review \u2026 \u2026. 4 \n1.6 Justification \u2026 \u2026. 5 \n1.7 Organizational Layout \u2026 \u2026. 5\">CHAPTER ONE: INTRODUCTION \n1.0 General Introduction \u2026 \u2026 1 \n1.1 Statement of the Research Problem \u2026 &#8230; 2 \n1.2 Aims and Objectives of the Research \u2026 \u2026 3 \n1.3 Scope of the Research \u2026 &#8230; 3 \n1.4 Research Methodology \u2026 \u2026. 4 \n1.5 Literature Review \u2026 \u2026. 4 \n1.6 Justification \u2026 \u2026. 5 \n1.7 Organizational Layout \u2026 \u2026. 5<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/lawstudentprojectpdf.projectstore.com.ng\/an-examination-of-the-legal-implications-of-mortgages-as-collateral-in-nigeria\/#CHAPTER_TWO_NATURE_OF_LENDING_RELATIONSHIP\" title=\"CHAPTER TWO: NATURE OF LENDING RELATIONSHIP\">CHAPTER TWO: NATURE OF LENDING RELATIONSHIP<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/lawstudentprojectpdf.projectstore.com.ng\/an-examination-of-the-legal-implications-of-mortgages-as-collateral-in-nigeria\/#21_Introduction_to_Loans_Debts_and_Credit_%E2%80%A6_%E2%80%A6_7_211_Loans_%E2%80%A6_%E2%80%A6_7_212_Debts_%E2%80%A6_%E2%80%A6_7_213_Credit_%E2%80%A6_%E2%80%A6_8_214_Distinction_between_Loans_and_Debts_%E2%80%A6_%E2%80%A6_8_The_Importance_of_Distinction_between_Loans_and_other_Forms_of_Credit_Transactions_%E2%80%A6_%E2%80%A6_9\" title=\"2.1 Introduction to Loans, Debts and Credit \u2026 \u2026. 7 \n2.1.1 Loans \u2026 \u2026. 7 \n2.1.2 Debts \u2026 \u2026. 7 \n2.1.3 Credit \u2026 \u2026. 8 \n2.1.4 Distinction between Loans and Debts \u2026 \u2026. 8 \nThe Importance of Distinction between Loans and other Forms \nof Credit Transactions \u2026 \u2026. 9\">2.1 Introduction to Loans, Debts and Credit \u2026 \u2026. 7 \n2.1.1 Loans \u2026 \u2026. 7 \n2.1.2 Debts \u2026 \u2026. 7 \n2.1.3 Credit \u2026 \u2026. 8 \n2.1.4 Distinction between Loans and Debts \u2026 \u2026. 8 \nThe Importance of Distinction between Loans and other Forms \nof Credit Transactions \u2026 \u2026. 9<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/lawstudentprojectpdf.projectstore.com.ng\/an-examination-of-the-legal-implications-of-mortgages-as-collateral-in-nigeria\/#Characteristics_of_a_Loan_%E2%80%A6_%E2%80%A6_10\" title=\"Characteristics of a Loan \u2026 \u2026. 10\">Characteristics of a Loan \u2026 \u2026. 10<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/lawstudentprojectpdf.projectstore.com.ng\/an-examination-of-the-legal-implications-of-mortgages-as-collateral-in-nigeria\/#Types_of_Loans_%E2%80%A6_%E2%80%A6_11\" title=\"Types of Loans \u2026 \u2026 11\">Types of Loans \u2026 \u2026 11<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/lawstudentprojectpdf.projectstore.com.ng\/an-examination-of-the-legal-implications-of-mortgages-as-collateral-in-nigeria\/#Bad_DebtsLoans_%E2%80%A6_%E2%80%A6_13\" title=\"Bad Debts\/Loans \u2026 \u2026 13\">Bad Debts\/Loans \u2026 \u2026 13<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/lawstudentprojectpdf.projectstore.com.ng\/an-examination-of-the-legal-implications-of-mortgages-as-collateral-in-nigeria\/#Effects_of_Bad_DebtsLoans_%E2%80%A6_%E2%80%A6_14\" title=\"Effects of Bad Debts\/Loans \u2026 \u2026 14\">Effects of Bad Debts\/Loans \u2026 \u2026 14<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/lawstudentprojectpdf.projectstore.com.ng\/an-examination-of-the-legal-implications-of-mortgages-as-collateral-in-nigeria\/#CHAPTER_THREE_MEANING_AND_PURPOSE_OF_COLLATERALS_IN_LENDING\" title=\"CHAPTER THREE: MEANING AND PURPOSE OF COLLATERALS IN LENDING\">CHAPTER THREE: MEANING AND PURPOSE OF COLLATERALS IN LENDING<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/lawstudentprojectpdf.projectstore.com.ng\/an-examination-of-the-legal-implications-of-mortgages-as-collateral-in-nigeria\/#30_Forms_of_Collateral_%E2%80%A6_20_31_Collateral_Defined_%E2%80%A6%E2%80%A6_21_32_Purpose_and_Features_of_Collateral_%E2%80%A6_23_33_The_Mortgage_%E2%80%A6_%E2%80%A6_24_34_Steps_to_Obtaining_Legal_Mortgage_%E2%80%A6_%E2%80%A6_24_35_Types_of_Mortgages_%E2%80%A6_%E2%80%A6_28_36_Right_of_Mortgagors_%E2%80%A6_%E2%80%A6_32_37_Right_of_the_Mortgagee_%E2%80%A6_32_38_Perfection_of_Collateral_%E2%80%A6_33_39_The_Implications_of_Creating_or_Taking_Collaterals_%E2%80%A6_%E2%80%A6_36\" title=\"3.0 Forms of Collateral \u2026.. 20 \n3.1 Collateral Defined \u2026\u2026. 21 \n3.2 Purpose and Features of Collateral \u2026 23 \n3.3 The Mortgage \u2026. \u2026. 24 \n3.4 Steps to Obtaining Legal Mortgage \u2026 \u2026. 24 \n3.5 Types of Mortgages \u2026 \u2026. 28 \n3.6 Right of Mortgagors \u2026 \u2026. 32 \n3.7 Right of the Mortgagee \u2026. 32 \n3.8 Perfection of Collateral \u2026. 33 \n3.9 The Implications of Creating or Taking Collaterals \u2026 \u2026. 36\">3.0 Forms of Collateral \u2026.. 20 \n3.1 Collateral Defined \u2026\u2026. 21 \n3.2 Purpose and Features of Collateral \u2026 23 \n3.3 The Mortgage \u2026. \u2026. 24 \n3.4 Steps to Obtaining Legal Mortgage \u2026 \u2026. 24 \n3.5 Types of Mortgages \u2026 \u2026. 28 \n3.6 Right of Mortgagors \u2026 \u2026. 32 \n3.7 Right of the Mortgagee \u2026. 32 \n3.8 Perfection of Collateral \u2026. 33 \n3.9 The Implications of Creating or Taking Collaterals \u2026 \u2026. 36<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-12\" href=\"https:\/\/lawstudentprojectpdf.projectstore.com.ng\/an-examination-of-the-legal-implications-of-mortgages-as-collateral-in-nigeria\/#CHAPTER_FOUR_THE_NATURE_OF_COLLATERAL_INTEREST\" title=\"CHAPTER FOUR: THE NATURE OF COLLATERAL INTEREST\">CHAPTER FOUR: THE NATURE OF COLLATERAL INTEREST<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-13\" href=\"https:\/\/lawstudentprojectpdf.projectstore.com.ng\/an-examination-of-the-legal-implications-of-mortgages-as-collateral-in-nigeria\/#40_The_Nature_of_Collateral_Interest_%E2%80%A6_39_41_Collateral_Interest_Arising_From_Transaction_Intended_as_Collateral_Transaction_%E2%80%A6_39_42_Collateral_Interest_as_a_Right_in_Rem_%E2%80%A6_39_43_Agreement_to_give_Collateral_%E2%80%A6_40_44_Contractual_Set_Off_vis-a-vis_Collateral_%E2%80%A6_40_45_Conditions_for_Repayment_vis-a-vis_Collateral_%E2%80%A6_40_46_Enforceability_of_collateral_%E2%80%93_at_what_stage_does_the_Collateral_%E2%80%A6_41_47_Enforcement_of_the_Covenant_to_Repay_%E2%80%A6_42_48_Entering_into_Possession_43\" title=\"4.0 The Nature of Collateral Interest \u2026. 39 \n4.1 Collateral Interest Arising From Transaction Intended as Collateral Transaction \n\u2026. \n39 \n4.2 Collateral Interest as a Right in Rem \u2026. 39 \n4.3 Agreement to give Collateral \u2026. 40 \n4.4 Contractual Set Off vis-\u00e0-vis Collateral \u2026. 40 \n4.5 Conditions for Repayment vis-\u00e0-vis Collateral \u2026. 40 \n4.6 Enforceability of collateral \u2013 at what stage does the Collateral \n\u2026. \n41 \n4.7 Enforcement of the Covenant to Repay \u2026. 42 \n4.8 Entering into Possession . 43\">4.0 The Nature of Collateral Interest \u2026. 39 \n4.1 Collateral Interest Arising From Transaction Intended as Collateral Transaction \n\u2026. \n39 \n4.2 Collateral Interest as a Right in Rem \u2026. 39 \n4.3 Agreement to give Collateral \u2026. 40 \n4.4 Contractual Set Off vis-\u00e0-vis Collateral \u2026. 40 \n4.5 Conditions for Repayment vis-\u00e0-vis Collateral \u2026. 40 \n4.6 Enforceability of collateral \u2013 at what stage does the Collateral \n\u2026. \n41 \n4.7 Enforcement of the Covenant to Repay \u2026. 42 \n4.8 Entering into Possession . 43<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-14\" href=\"https:\/\/lawstudentprojectpdf.projectstore.com.ng\/an-examination-of-the-legal-implications-of-mortgages-as-collateral-in-nigeria\/#49_Collateral_Interest_Vis-a-vis_Customers_Dominance_Over_the_Assets_%E2%80%A6_44_CHAPTER_FIVE_FORM_OF_COLLATERAL\" title=\"4.9 Collateral Interest Vis-\u00e0-vis Customer\u2019s Dominance \nOver the Assets \u2026. 44 \nCHAPTER FIVE: FORM OF COLLATERAL\">4.9 Collateral Interest Vis-\u00e0-vis Customer\u2019s Dominance \nOver the Assets \u2026. 44 \nCHAPTER FIVE: FORM OF COLLATERAL<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-15\" href=\"https:\/\/lawstudentprojectpdf.projectstore.com.ng\/an-examination-of-the-legal-implications-of-mortgages-as-collateral-in-nigeria\/#50_Consensus_Securities_%E2%80%A6_45_51_The_Pledge_%E2%80%A6_45_52_The_Charge_%E2%80%A6_46_53_Contractual_Lien_%E2%80%A6_46_54_Fixed_and_Floating_Collateral_%E2%80%A6_46_55_Pledge_Collaterals_%E2%80%A6_47_56_Customary_Pledge_%E2%80%A6_49_57_Creation_of_Customary_Pledge_%E2%80%A6_51_58_Negative_Pledge_Collateral_%E2%80%A6_53_59_Legal_Nature_of_Negative_Pledge_Collateral_%E2%80%A6_55_510_Taking_Security_with_Notice_of_a_Negative_Pledge_Clause_%E2%80%A6_%E2%80%A6_56_511_Contingent_Liabilities_%E2%80%A6_%E2%80%A6_57_512_Features_of_Guarantees_%E2%80%A6%E2%80%A6_%E2%80%A6_59_513_Bonds_as_Security_%E2%80%A6_%E2%80%A6_67_514_Major_Types_of_Bonds_%E2%80%A6_%E2%80%A6_67_515_The_Charges_%E2%80%A6_%E2%80%A6_72_516_The_Difference_between_a_Mortgage_and_a_Charge_%E2%80%A6_%E2%80%A6_73_517_Types_of_Charges_%E2%80%A6_%E2%80%A6_74_518_Crystallization_of_Floating_Charge_%E2%80%A6_%E2%80%A6_77\" title=\"5.0 Consensus Securities \u2026 . 45 \n5.1 The Pledge \u2026. 45 \n5.2 The Charge \u2026. 46 \n5.3 Contractual Lien \u2026. 46 \n5.4 Fixed and Floating Collateral \u2026. 46 \n5.5 Pledge Collaterals \u2026. 47 \n5.6 Customary Pledge \u2026. 49 \n5.7 Creation of Customary Pledge \u2026. 51 \n5.8 Negative Pledge Collateral \u2026. 53 \n5.9 Legal Nature of Negative Pledge Collateral \u2026. 55 \n5.10 Taking Security with Notice of a Negative Pledge Clause \u2026 \u2026. 56 \n5.11 Contingent Liabilities \u2026 \u2026. 57 \n5.12 Features of Guarantees \u2026\u2026 \u2026.. 59 \n5.13 Bonds as Security \u2026 \u2026. 67 \n5.14 Major Types of Bonds \u2026 \u2026. 67 \n5.15 The Charges \u2026 \u2026. 72 \n5.16 The Difference between a Mortgage and a Charge \u2026 \u2026. 73 \n5.17 Types of Charges \u2026 \u2026. 74 \n5.18 Crystallization of Floating Charge \u2026 \u2026. 77\">5.0 Consensus Securities \u2026 . 45 \n5.1 The Pledge \u2026. 45 \n5.2 The Charge \u2026. 46 \n5.3 Contractual Lien \u2026. 46 \n5.4 Fixed and Floating Collateral \u2026. 46 \n5.5 Pledge Collaterals \u2026. 47 \n5.6 Customary Pledge \u2026. 49 \n5.7 Creation of Customary Pledge \u2026. 51 \n5.8 Negative Pledge Collateral \u2026. 53 \n5.9 Legal Nature of Negative Pledge Collateral \u2026. 55 \n5.10 Taking Security with Notice of a Negative Pledge Clause \u2026 \u2026. 56 \n5.11 Contingent Liabilities \u2026 \u2026. 57 \n5.12 Features of Guarantees \u2026\u2026 \u2026.. 59 \n5.13 Bonds as Security \u2026 \u2026. 67 \n5.14 Major Types of Bonds \u2026 \u2026. 67 \n5.15 The Charges \u2026 \u2026. 72 \n5.16 The Difference between a Mortgage and a Charge \u2026 \u2026. 73 \n5.17 Types of Charges \u2026 \u2026. 74 \n5.18 Crystallization of Floating Charge \u2026 \u2026. 77<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-16\" href=\"https:\/\/lawstudentprojectpdf.projectstore.com.ng\/an-examination-of-the-legal-implications-of-mortgages-as-collateral-in-nigeria\/#CHAPTER_SIX_CONCLUSION_SUMMARY_FINDINGS_AND_RECOMMENDATIONS\" title=\"CHAPTER SIX: CONCLUSION, SUMMARY, FINDINGS AND RECOMMENDATIONS\">CHAPTER SIX: CONCLUSION, SUMMARY, FINDINGS AND RECOMMENDATIONS<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-17\" href=\"https:\/\/lawstudentprojectpdf.projectstore.com.ng\/an-examination-of-the-legal-implications-of-mortgages-as-collateral-in-nigeria\/#Conclusion_%E2%80%A6_81_Summary_%E2%80%A6_81_Findings_%E2%80%A6_82_Recommendation_%E2%80%A6_83_BIBLIOGRAPHY_A_Textbooks_%E2%80%A6_84_B_Journals_%E2%80%A6_84_C_SeminarWorkshop_Papers_%E2%80%A6_84_D_Websites_%E2%80%A6_84\" title=\"Conclusion \u2026 . 81 \nSummary \u2026 . 81 \nFindings \u2026 . 82 \nRecommendation \u2026 . 83 \nBIBLIOGRAPHY \nA. Textbooks \u2026 . 84 \nB. Journals \u2026 . 84 \nC. Seminar\/Workshop Papers \u2026 . 84 \nD. Websites \u2026 . 84\">Conclusion \u2026 . 81 \nSummary \u2026 . 81 \nFindings \u2026 . 82 \nRecommendation \u2026 . 83 \nBIBLIOGRAPHY \nA. Textbooks \u2026 . 84 \nB. Journals \u2026 . 84 \nC. Seminar\/Workshop Papers \u2026 . 84 \nD. Websites \u2026 . 84<\/a><\/li><\/ul><\/li><\/ul><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n","protected":false},"excerpt":{"rendered":"<p>AN EXAMINATION OF THE LEGAL IMPLICATIONS OF MORTGAGES AS COLLATERAL IN NIGERIA ABSTRACT The challenge identified by this research was the manner of collaterisation of credits by financial institutions. It was discovered that due to the volume of funds available at the disposal of financial institutions as a result of the consolidation exercise and stiff [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[2],"tags":[],"jetpack_featured_media_url":"","_links":{"self":[{"href":"https:\/\/lawstudentprojectpdf.projectstore.com.ng\/wp-json\/wp\/v2\/posts\/2207"}],"collection":[{"href":"https:\/\/lawstudentprojectpdf.projectstore.com.ng\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/lawstudentprojectpdf.projectstore.com.ng\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/lawstudentprojectpdf.projectstore.com.ng\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/lawstudentprojectpdf.projectstore.com.ng\/wp-json\/wp\/v2\/comments?post=2207"}],"version-history":[{"count":0,"href":"https:\/\/lawstudentprojectpdf.projectstore.com.ng\/wp-json\/wp\/v2\/posts\/2207\/revisions"}],"wp:attachment":[{"href":"https:\/\/lawstudentprojectpdf.projectstore.com.ng\/wp-json\/wp\/v2\/media?parent=2207"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/lawstudentprojectpdf.projectstore.com.ng\/wp-json\/wp\/v2\/categories?post=2207"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/lawstudentprojectpdf.projectstore.com.ng\/wp-json\/wp\/v2\/tags?post=2207"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}