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Advocate Shadab (Legal Consultant)     21 November 2016

Mortgage by deposit of title deed

Together with an Agreement relating to Deposit of TItle Deeds (Article 7) , Bank is asking to give Power of Attorney also to collect the rent directly on our behalf as the property is already let out. 

Sub Registrar says he will treat it under article 43 (mortgage) (possession Given under eXplanation as POA to collect rent also given to bank)? 

I'm of the opinion that he can not, as explanation of article 43 is specifically for article 43 and can not be stretched to affect article 7.

 

 

Thanks & Regards

 

Shadab Ghori Advocate

 

 

 

 



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 2 Replies

Law Aspire (Legal)     19 December 2016

Both the things are different matter ,  assignment of rent income  is a different issues.

While only mortgage will not give bank any right to take  rental income from property 

kindly quote the articles here

Law Aspire (Legal)     19 December 2016

Both the things are different matter ,  assignment of rent income  is a different issues.

While only mortgage will not give bank any right to take  rental income from property 

kindly quote the articles here


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