Payment

neha (Querist) 28 May 2018 This query is : Resolved
can an individual mortgage his immovable property in lieu of cash to another company for payment of goods?

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Guest (Expert) 28 May 2018
Yes and it would be treated as Third Party Collateral.

Ms.Usha Kapoor (Expert) 29 May 2018
It all depends on the terms of the contract between seller and buyer. If Buyer mortgages the immovable property in favor of the sellerIt is called 3rd party collateral and it happens in sale of goods.

Guest (Expert) 29 May 2018
Yes, if the company is willing to accept the mortgage of property in lieu of payment of goods.

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