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sachin katariya (advocate)     01 May 2010

Equitable Mortgage

Respected all,

My query is that :-Equitable mortgage is created in favour of bank by depositing title deeds such as 7/12 (xerox copy) extract ( as there is no other title documents ) further there are no single transaction on 7/12 since last 20 years. moreover the bank has not created charge over the 7/12 extract regarding  mortgage.

Now the Mortgagor sold the mortgage property  to some other person. without consent and knowledge of bank. In that case wheather the equitable mortgage created in favour of bank can survive ? ? 

Plz support your answer with citation if any ..............................



Learning

 1 Replies

Daksh (Student)     05 May 2010

Dear Sachin,

Untill and unless the Bank gives NOC for the same the relationship amongst the parties is governed thorugh the contract in this regard and in case of voilation ipso facto it creates a enforceable charge to the Bank.

Best Regards

Daksh


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