Best Mortgage Lawyers in Lafia

About Mortgage Law in Lafia, Nigeria

In Lafia, the capital of Nasarawa State, mortgages are a common way to secure loans using land or buildings as collateral. A mortgage is a legal arrangement where a borrower gives a lender an interest in property to secure repayment of a loan. Nigerian law, especially the Land Use Act 1978, governs how land is held and transferred across the country, including Lafia. Under this framework, most urban land in Lafia is held under a statutory right of occupancy, and rural land is usually held under a customary right of occupancy.

Mortgages in Lafia can be legal or equitable. A legal mortgage is created by a formal deed and is perfected by obtaining the Governor’s Consent, paying stamp duties, and registering the instrument at the Nasarawa State land registry operated through Nasarawa State Geographic Information Service. An equitable mortgage can arise through a deposit of title documents or an agreement to create a mortgage and usually gives the lender fewer rights until it is perfected.

Primary Mortgage Banks operate in Lafia and are regulated by the Central Bank of Nigeria. The Federal Mortgage Bank of Nigeria supports National Housing Fund loans for eligible contributors. Because land documentation and consent procedures are technical, most successful mortgage transactions in Lafia involve careful legal advice, title investigation, and regulatory compliance.

Why You May Need a Lawyer

You may need a lawyer if you want to use your property in Lafia as collateral for a bank loan or a non interest financing product. A lawyer helps you structure the mortgage correctly so that it is enforceable and so that you understand your obligations and risks.

You may need a lawyer if you are buying a property that may already be subject to a mortgage. A lawyer will run searches at the land registry and at the Corporate Affairs Commission to discover any existing encumbrances and to ensure you are not buying a property with hidden debts.

You may need a lawyer if a bank has issued you a default notice or is threatening to sell your property. A lawyer can review whether the lender complied with the notice and timing requirements and can negotiate restructuring or defend you in court where appropriate.

You may need a lawyer if you are a company borrowing with land as security. Corporate charges must be registered at the Corporate Affairs Commission within strict timelines, and failure can make the security void against a liquidator and creditors.

You may need a lawyer if you are perfecting title. Governor’s Consent, stamp duty assessment and payment, and registration at the land registry require detailed documentation and adherence to statutory steps.

You may need a lawyer if you are considering Islamic non interest home finance options offered by regulated institutions in Lafia. These products have different legal forms and security structures that should be documented correctly under Nigerian law.

Local Laws Overview

Land Use Act 1978. All land is vested in the Governor of Nasarawa State for the benefit of the people. Alienation of a statutory right of occupancy by way of mortgage requires the Governor’s Consent before or as part of perfection. For customary rights of occupancy in rural areas, consent of the Local Government is required before alienation.

Conveyancing Act 1881 and related received English law. In Nasarawa State these rules govern many mortgage rights and remedies. A lender’s statutory power of sale generally arises when the principal is due and either a written demand has been served and default continues for 3 months, or interest is in arrear for 2 months, or there is another breach of covenant.

Stamp Duties Act and Finance Acts. Mortgage deeds are chargeable with ad valorem stamp duty. Stamping should be done within the statutory period after execution, and penalties can apply for late stamping. For instruments by individuals, the State Internal Revenue Service collects stamp duty. For instruments by companies, the Federal Inland Revenue Service collects stamp duty.

Land Instruments Registration Law of Nasarawa State. Mortgages must be registered at the state land registry to protect priority and to be admissible in evidence concerning land. Unregistered instruments affecting land can be ineffective against third parties.

Companies and Allied Matters Act 2020. Company charges over land and other assets must be registered at the Corporate Affairs Commission within the prescribed period, generally 90 days from creation, otherwise the security is void against a liquidator and creditors though the debt remains.

Evidence and priority rules. An unstamped or unregistered mortgage may not be admitted in evidence to prove title, and priority among competing interests often depends on the type of interest, order of creation, registration, and notice.

Frequently Asked Questions

What is the difference between a legal mortgage and an equitable mortgage

A legal mortgage is created by a deed and is perfected through consent, stamping, and registration, giving the lender strong enforcement rights including a statutory power of sale. An equitable mortgage is created by deposit of title documents or an agreement to mortgage, and while it creates a real security interest in equity, it typically requires court assistance or further steps to reach the same enforcement strength as a legal mortgage.

Do I need the Governor’s Consent to mortgage my property in Lafia

Yes, if your property is held under a statutory right of occupancy you must obtain the Governor’s Consent to mortgage or otherwise alienate it. For customary rights of occupancy in rural areas, consent of the Local Government is required. Transactions without the required consent are generally void as to legal title, though equitable rights may arise between the parties.

What documents are required to create and perfect a mortgage

Typical documents include the title document such as a Certificate of Occupancy or right of occupancy evidence, a duly executed deed of legal mortgage, application and approval for Governor’s Consent, tax clearance for parties where applicable, valuation report, survey plan or site plan, stamp duty payment receipts, and land registry registration receipts. If the mortgagor is a company, Corporate Affairs Commission charge registration documents are also required.

How long does mortgage perfection take in Lafia

Timelines vary with file completeness and government processing. Consent processing, stamp duty assessment and payment, and land registry registration can take several weeks to a few months. Company charge registration must be filed promptly, generally within 90 days of creation. Engaging a local lawyer who understands Nasarawa State procedures helps keep the process on track.

What costs should I expect

Expect bank arrangement fees, valuation fees, legal fees, stamp duty on the mortgage deed which is ad valorem, consent fees, registration fees, and search fees. Some fees are set by regulation while others are negotiable. Late stamping or late registration can attract penalties.

Can a bank sell my house without going to court

If the mortgage was properly created and perfected, and the lender’s power of sale has arisen and the required notices and timing have been respected, a lender can exercise a power of sale without first obtaining a court order. However, lenders must act in good faith, follow statutory and contractual procedures, and sell at a proper price after valuation. Borrowers can challenge a non compliant sale in court.

What happens if I miss payments

The lender will usually issue a demand or default notice. If default continues and the conditions are met, the lender can take steps such as appointing a receiver if the mortgage allows, taking possession peacefully, or exercising the power of sale. You also retain an equity of redemption, meaning you can redeem the loan by paying what is due before a valid sale is completed.

Can I mortgage land held under customary tenure in Nasarawa State

Yes, but you must comply with the legal regime that applies to customary rights of occupancy. Consent of the Local Government is required for alienation. Lenders often require conversion or regularization of title to a statutory right of occupancy for clarity and ease of enforcement, especially for urban or peri urban properties.

What is priority between two mortgages on the same property

Generally, an earlier legal mortgage that is duly perfected has priority over a later mortgage. Between an earlier equitable mortgage and a later legal mortgage taken for value without notice, the later legal mortgage can take priority. Registration and thorough land and Corporate Affairs Commission searches are essential to avoid priority disputes.

Are there Islamic non interest home finance options in Lafia

Yes. Some regulated institutions offer non interest products such as Murabaha, Ijara, or diminishing Musharaka structures. These are not mortgages in the strict sense but achieve similar outcomes with Sharia compliant documentation. The security for such facilities is still documented and perfected under Nigerian property laws, and legal advice is recommended.

Additional Resources

Nasarawa State Geographic Information Service in Lafia. Handles land records, title searches, Certificates of Occupancy, consent processing, and land registration.

Nasarawa State Ministry of Lands and Urban Development. Policy and oversight for land administration and urban development in the state.

Nasarawa State Internal Revenue Service. Responsible for stamp duty on instruments executed by individuals and for assessing and collecting applicable state taxes and fees.

Corporate Affairs Commission Nasarawa office. Registration of company charges and filings relating to corporate borrowers and lenders.

Federal Mortgage Bank of Nigeria. Administers National Housing Fund contributions and loans through accredited primary mortgage lenders.

Central Bank of Nigeria Consumer Protection Department. Receives complaints about regulated financial institutions including mortgage banks.

Legal Aid Council of Nigeria Nasarawa State office. Offers legal aid to eligible persons who cannot afford a lawyer.

Nigerian Bar Association Lafia branch. A resource for referrals to local property and mortgage law practitioners.

Next Steps

Clarify your goal. Decide whether you are creating a new mortgage, refinancing, buying a mortgaged property, or dealing with default. This determines the documents and steps required.

Engage a Lafia based property lawyer early. Ask for a scope that covers title due diligence, drafting and negotiation, perfection steps, and where needed representation in enforcement or restructuring.

Collect key documents. Gather your title documents, identification, tax clearance where applicable, existing facility letters, survey or site plans, and any correspondence from your lender.

Conduct searches. Your lawyer should run searches at Nasarawa State Geographic Information Service and where the mortgagor is a company at the Corporate Affairs Commission. If the borrower or lender is a company, confirm that company approvals and filings are in order.

Structure and document the deal. Ensure the facility letter and deed of legal mortgage reflect agreed terms, repayment schedule, interest or profit rate, events of default, and enforcement provisions. Confirm any insurance and valuation requirements.

Perfect the security. Obtain the Governor’s Consent or Local Government consent as applicable, pay stamp duty, and register the mortgage at the land registry. If the mortgagor is a company, register the charge at the Corporate Affairs Commission within the statutory period.

Plan for compliance and risk management. Diary payment dates, monitor covenants, keep insurance current, and maintain communication with your lender. If you face financial difficulty, seek legal advice early to explore restructuring before enforcement begins.

This guide is for general information. Mortgage transactions are fact specific. Consult a qualified Lafia based lawyer for tailored advice and representation.