Friends,
I would like to know , a person has got more than one plot in one Patta(Record of Right) ,he wants to mortgage one plot , can it be possible on the part of Bank to mortgage one plot.
V.V.RAMDAS (Advocate) 18 July 2009
Friends,
I would like to know , a person has got more than one plot in one Patta(Record of Right) ,he wants to mortgage one plot , can it be possible on the part of Bank to mortgage one plot.
Saket Gandhi (advocate) 21 July 2009
Mr. Ramdas...
The answer to your query is very simple...
First of all let me tell you, if i am not wrong, that the records of right are just the revenue records for the revenue authority to collect the revenues.
The person whom you are talking might have purchased the said plots at various intervals, under different sale deeds. The said sale deeds are the documents of title. Therefore, the said documents can be equitably mortgaged with the bank. The bank may for the safer side register the mortgage, if it is reduced to writing and can enter its charge in revenue records for the said particular plot which has been mortgaged.
If, the sale deed is made for more then one plot then also the bank can accept mortgage for one of the plots mentioned in the sale deed and the mortgage deed can be registered for the said plot.
Hope i have opined you accordingly....
Regards...
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