Lender collecting sale deed as collateral security

bonojit ukil (Querist) 27 October 2015 This query is : Resolved
Dear Experts,
Please advice,

1). legal position of a lender, who collects Title document (eg Sale Deed), from a borrower, as a collateral security/ additional security, but not under equitable mortgage for a business loan)

2). legal position of a lender,"when the Sale deed is marked by "COURT STAMP", with noting, eg, for BAIL/ or STOOD AS A GUARANTOR (document is collected as collateral security)

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R.K Nanda (Expert) 01 November 2015
consult local lawyer.

T. Kalaiselvan, Advocate (Expert) 01 November 2015
The documents so collected cannot be accounted as collateral security until there is a mention about it in the loan agreement.

bonojit ukil (Querist) 01 November 2015
Thanks Sir

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