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Sara Sweety   21 February 2021

Charge

What is difference between creation and perfection of charge?


Learning

 1 Replies

sneha jaiswal   09 April 2021

Hello, Greetings of the day!

Creation of Charge- A charge is basically a right which is created by a borrower on its assets and properties, whether present or future, in favor of a bank or financial institution (lender) which lends financial assistance.

Perfection of Charge- Is when the bank would like to secure the loan made by the purchaser or The Perfection of Charge is only required when a home loan has been used to finance a property purchase. It transfers ownership from the new owner to the bank who financed the loan.
 

Hope It helps

Best Regards,

Sneha Jaiswal


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