Mortgage loan

shanmuga kumar b (Querist) 21 May 2015 This query is : Resolved
I borrowed sum of rs.22 lacs from my friend during august 2011. I signed a agreement in 100 rs stamp paper and give my house documents as collateral.

Now, he want to registered the loan, with Trichy registered office. Equitable mortgage agreement.

Is it possible, to register the loan today, metioned loan received as on 12 august 2011.

pls advice

b. shanmuga kumar

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ADV-JEEVAN PATIL, MUMBAI (Expert) 21 May 2015
It can be registered with minor penalty if attracted as per existing rules

Rajendra K Goyal (Expert) 21 May 2015
There is no need to register such agreement. However contact registrar office to find the procedure as per state law.

T. Kalaiselvan, Advocate (Expert) 24 May 2015
What is the necessity to register the loan after a lapse of four years period from the original date of loan, in fact if there was no renewal in the mean time, the loan itself will not be able to be recovered due to the limitation being barred.
However an EM can be registered even now by quoting the original date of loan.

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