What is the difference between registered equitable mortgage and registered mortgage.

MAHESWAREE SWAIN (Querist) 25 April 2015 This query is : Resolved
in a bank mortgage matter i have a query about on the differences between registered equitable mortgage and registered mortgage. please experts clarify this to me.

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Satya nand aggarwal (Expert) 25 April 2015
IN fact in both the mortgages the consequences are the same,
If the title deed is deposited with bank and entered in the title register of the bank and bank got it registered in the office of Sub registrar then called Memorandum of registered equitable mortgage/ registered equitable mortgage is created and in this case the stamp paper is required at reduced rates.
But in simple registered mortgage only mortgage is registered with sub Registrar, In such mortgage there is no need to deposit the original sale deed with the bank even there is no requirement of title deed.