Seema P 06 July 2022

Correction in index 2 of equitable mortgage

Equitable mortgage is created for a borrower. However mortagagee branch is named different. (Bank is same). How to do correction in this?

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Quick Summary

This discussion addresses how to correct an error in an equitable mortgage where the mortgagee branch name differs from the borrower's details, even though it's the same bank. It's suggested that a rectification deed can be used to amend the mortgage deed. Such corrections are vital for lenders to maintain legal protection, especially in foreclosure scenarios.

2 Replies

G.L.N. Prasad (Retired employee.) 07 July 2022

Where did the mistake has taken place? To my knowledge, it makes no difference and it is the Banker that can only guide in the matter. The Banker takes a declaration from the borrower that EM was already created in the name of that Branch already and it should continue for lending at the proposed branch also.