I have purchased some Agricultural land through Registered Sale Deed. Is this Registered Sale Deed can be accepted for an equitable Mortgage by the Bank? If not then why?
Madhur Singh (Student) 01 January 2012
I have purchased some Agricultural land through Registered Sale Deed. Is this Registered Sale Deed can be accepted for an equitable Mortgage by the Bank? If not then why?
pervez (adviser) 01 January 2012
Dear, Under Sec. 58(f) of TP Act, an eqitable mortgage can be created by deposit of title deeds. The registeterd sale deed constitute transfer of title in favour of purchaser.. Pl. check u have got your name mutated in revenue records... Practically, some banks do not accept agriculture property as security, as the enforcement thereof is not possible under SARFEASI Act [ Securitisation Act]... otherwise, there may not be any hitch / problem in accepting agriculture property as security....
RAJU O.F., (Advocate) 04 January 2012
Query is already answered by several experts, in daily query link; please refer.
RAJU O.F., (Advocate) 04 January 2012
In addition to the answer given by my friend Mr.Parvez, please note your query is already answered by several experts, in daily query link; please refer.
Madhur Singh (Student) 04 January 2012
Thanks for answer.
Member Strength 9,46,697 and growing..
© 2024 LAWyersclubindia.com. Let us grow stronger by mutual exchange of knowledge.
