If you want to lend someone money and such person is requesting to use his/her land as collateral?
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It's fine.
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Provided you understand what form.of mortgage exactly it is you are creating.
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It's common to have people collect title documents of the piece of real estate from the borrower with the intention of exercising ownership or selling of such Property when the borrower (otherwise known as the mortgagor) defaults.
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If you wish that a borrower should use his/ her land as collateral for the money you want to lend, it's best that you create a legal mortgage instead.
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Do this by creating a DEED OF MORTGAGE for your transaction. You are covered and you'll have the right to sell in this case (whether it is expressly stated that you can sell or not, the law presumes so)
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Collecting a title documents or papers does not give you the right to exercise ownership, let alone sell of the property, except..
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Except you seek or obtain an order of the court to sell, which can be time consuming as usual, otherwise, you'll be said to have sold illegally. . .

Take note ..

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Bad busness , expecially when is land that involve omo onile in Lagos state . Please any land can’t don’t have C of O original survey , if is lagos go and track it at Alausa if the land Carry it’s name . Don’t fall for that shit many people use fake land to collect cars from many people for lekki here and knowing it’s fraud .
Land not a good colleterial if it’s dose not have all original document indication is the legitimate owner

Go ahead and Borrow...then enter 3days fasting and prayer...it goes like dis.

let my friend that borrowed money from me,have financial challenges.so the land will be mine.

You've made a very solid submission. Thanks for putting icing one cake. People need to learn and stop taking unnecessary risks.

jagaban002:
Bad busness , expecially when is land that involve omo onile in Lagos state . Please any land can’t don’t have C of O original survey , if is lagos go and track it at Alausa if the land Carry it’s name . Don’t fall for that shit many people use fake land to collect cars from many people for lekki here and knowing it’s fraud .
Land not a good colleterial if it’s dose not have all original document indication is the legitimate owner

Hehehehe.. Talented. I think you should consider comedy �

donbachi:
Go ahead and Borrow...then enter 3days fasting and prayer...it goes like dis.

let my friend that borrowed money from me,have financial challenges.so the land will be mine.