Property document pledging

vignesh k (Querist) 12 July 2012 This query is : Resolved

Dear sir,

can you describe in simple words and can i grant him loan or not and what type of memorandum should be prepared and were it should be stamped please let me know waiting for your great reply

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Trivedi Advocate (Expert) 12 July 2012
Dear Vignesh,

A mortgage is the pledging of a property to a lender as a security for a mortgage loan. Hence, security for the home loan is normally provided through the deposit of title deeds.The title should be clear and marketable. It should be stamped.