Mortgage

Querist : Anonymous (Querist) 22 February 2011 This query is : Resolved
Under Sec. 58(f) of the Transfer of Property Act, a mortgage by deposit of title deeds can be made only in the city of Madras, Bombay and if notified by the states. In NCR, all banks are mortgaging the title deeds though the cities are not notified so far as i found no notification particularly for Noida, Gautam Budh Nagar. How will the said mortgage will become enforceable in the absence of any such notification. Or is there any way to find out the notifications if any.

Thanks.

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s.subramanian (Expert) 23 February 2011
If such deposit of title deeds is amde and accepted at a place not notified, the mortgage is invalid in law and unenforceable.

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