LIVE Online Course on NDPS by Riva Pocha and Adv. Taraq Sayed. Starting from 24th May. Register Now!!
The Indian Constitution Courses

Share on Facebook

Share on Twitter

Share on LinkedIn

Share on Email

Share More

Madhur Singh (Student)     01 January 2012

Equitable mortgage

I have purchased some Agricultural land through Registered Sale Deed. Is this Registered Sale Deed can be accepted for an equitable Mortgage by the Bank? If not then why?



Learning

 4 Replies

pervez (adviser)     01 January 2012

Dear, Under Sec. 58(f) of TP Act, an eqitable mortgage can be created by deposit of title deeds. The registeterd sale deed constitute transfer of title in favour of purchaser.. Pl. check u have got your name mutated in revenue records... Practically, some banks do not accept agriculture property as security, as the enforcement thereof is not possible under SARFEASI Act [ Securitisation Act]... otherwise, there may not be any hitch / problem in accepting  agriculture property as security....

RAJU O.F., (Advocate)     04 January 2012

Query is already answered by several experts, in daily query link; please refer.

RAJU O.F., (Advocate)     04 January 2012

In addition to the answer given by my friend Mr.Parvez, please note your query is already answered by several experts, in daily query link; please refer.

Madhur Singh (Student)     04 January 2012

Thanks for answer.


Leave a reply

Your are not logged in . Please login to post replies

Click here to Login / Register  



Post a Suggestion for LCI Team
Post a Legal Query