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VANGARI GANGA RAJAM (Consultant)     23 December 2016


What is the difference between the Simple Mortgage and Equitable Mortgage ??


 4 Replies

G.L.N. Prasad (Retired employee.)     24 December 2016

Please use the forum for those practical queries for which you can not find solutions in any text book as this is not academic forum to answer simple issues that can be searched in google.

Simple mortgage is that requires registration in the books of sub-registrar, particularly when original title deeds are not available.  Stamp duty has to be paid on mortgage amount.  This is considered as safest as further registration through sale can not be done.

Equitable Mortgage is that mortgage, which involves depositing of all original title deeds with a simple memorandum after a later date.  In other words it may involve or may not involve registration, and a mere handing over the title deeds showing that intent to create equitable mortgage is sufficient.  In some states the memorandum requires registration. If the memorandum is not registered, the owner may sell away the property without notice, and there may be legal complications.

Search in google the advantages and more details.

1 Like

Kumar Doab (FIN)     24 December 2016

Agreed with Mrs Usha Kapoor.

Pls post full facts of the matter.

VANGARI GANGA RAJAM (Consultant)     24 December 2016

thank you for your suggestions


ADVOCATE TRILOK (CRIMINAL family PROPERTY topfreind@gmail.com )     25 December 2016

We are having similar problems in on going court cases. The bank has mortgaged a property giving bare details but not attached the earlier title deed. Even the details of title deed is also not given. How it can be legal mortgage and how it can be used.

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