Memorandum of title deeds- urgent

Querist : Anonymous (Querist) 30 August 2011 This query is : Resolved
Dear Sirs,

I'm availing a Mortgage loan of Rs.2.5 crs from Religare finvest based on my property which is worth Rs.27 crs.
First they said there is no need of Memorandum of title deeds is required but now they are saying it is must to register the memorandum.

Please let me know is memorandum of title deeds is mandatory for the above mortgage loan.

Thanks in Advance

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Guest (Expert) 30 August 2011
Depends upon the discretion of the mortgagee, who lends the money, to be more secure.

prabhakar singh (Expert) 30 August 2011
Expert : PS Dhingra, CEO, Dhingra Group is right,the creditor dominance and will govern this factor.You need it to judge if it would be alright for you to mortgage a property worth 27 crore for a loan of just as less as 2.5 crore.