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Rupal (Manager)     10 October 2011

Equitable mortgage

Hi,

1. Is it compulsory to register equitable mortgage.

2. What dis advantage the bank has if the equitable mortgage is not regisiter. 



Learning

 2 Replies

pervez (adviser)     10 October 2011

1. No, however, if the Indian Registration Act, as amended by State, prescribe for the same.. it has to be ..  the stamp  duty and charges may have to be paid accordinlgy..

2. Advantages are much more than disadvantages. In this computer era, when frauds are taking place in scores, it is advisable for a banker to register the same, as once the EM is registered , no further trasfer would be possible and no uncruplous borrower woukld cheat the banker...

Further, in some states the stamp duty and registration charges are much but still taking into account the advantages, it is advisable...  

Rupal (Manager)     11 October 2011

Thanks Pervez


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