Section 59 Mortgage and Property Law of Lagos State

Section 59 of the Mortgage and Property Law of Lagos State 2010 is about Prohibition of collateral contract. It provides as follows:

No mortgage agreement shall contain a requirement imposing an obligation on a mortgagor to purchase other financial products including insurance from the
same mortgage lender or other lenders. The provision of this section shall not prelude a mortgage lender from marketing such financial products to the potential mortgagors.