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Mutation by equitable mortage (Property Law)

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This query is : Resolved


Author : P.C.JAIN

Posted On 06 May 2012 at 00:28


in maharashtra state equitable mortgage by way of deposit of title deed is compulsory to be registered. tell me correct possition.

In chandrapur revenue authorities denies for mutation on equitable mortgage. as per revenue authorities mutation can be done only if it is registered mortage. they not accept equitable mortgage




Expert : Anirudh

Posted On 06 May 2012 at 08:54

Dear Mr. Jain,

Please paste the legal provision according to which you state that in Maharashtra State equitable mortgage is to be compulsorily registered.




Expert : ajay sethi

Posted On 06 May 2012 at 12:14

no equitable mortgage is not required to be compulsory registered in mahrashtra



Expert : R.K Nanda

Posted On 06 May 2012 at 14:10

I agree with the reply of Shri. Sethi.



Author : P.C.JAIN

Posted On 06 May 2012 at 21:38


our problem is that land record authorities of Chandarpur City denies to note banks charge in their record as per equitable mortgage documents, they are not accepting equitable mortage documents i.e Memorandum of deposit of Title deeds/letter of intend etc for noting of banks charge, they are insisting registered mortgage instead of equitable mortgage. please advise us that is there any Govt order or provision in law that Bank charge can't noted if it is not registerd mortgage



Expert : Anirudh

Posted On 06 May 2012 at 21:52

Dear Mr. Jain,

This is what happens, when you talk without any basis.

First you asserted that "in maharashtra state equitable mortgage by way of deposit of title deed is compulsory to be registered."

On that basis you said that the sub-registrar's office is not registering the equitable mortgage.

As regards, the equitable mortgage, from 1.4.2011 onwards, there is a CENTRAL AUTHORITY created under SARFAESI Act. All the equitable mortgages are required to be compulsorily registered with that Authority. The same is not required to be registered with the Sub-Registrar's office.



Expert : malipeddi jaggarao

Posted On 07 May 2012 at 17:07

The essentials of equitable mortgage are 1) depositing of title deeds at notified places 2) such deposit should be with intention to secure a debt. The revenue authorities are no way concerned to note mutation on the basis of above two acts unless the mortgage is registered. But the rights of the creditor in both the mortgages are same though the risk of alienation of property is there in equitable mortgage, but such alienation is not valid once the eq.mortgage is created.



Expert : c.p.s. ramachary

Posted On 31 May 2012 at 18:39

There is no legal requirement for registration of equitable mortgage. Equitable mortgage is based on the concept of 'recording of past transaction'

If mortgage is created in favour of any bank or asset reconstruction compny,the same is required to be registered with Centra Registry established under SARFAESI Act and to register such charge created is an obligation to the concerned secured creditor. You have to read Central Registry Rules framed under SARFAESI Act.


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