Prakash Yedhula (Lawyer) 15 November 2008
Yes. With by deposing the original title deed one can create an equitable mortgage.
P.Elamaran (Law Officer in a CPSU) 15 November 2008
I think the sale deed itself is a good enough document, based on which one can execute an equitable mortgage. An equitable mortgage need not be reduced into writing but mere deposit of title deed is sufficient. In old days, only the three presidency towns in India such as Bombay, Calcutta and Madras were the notified areas for executing the equitable mortgages , but nowadays , many big cities in India have been declared as notified areas for the purpose.
V.V.RAMDAS (Advocate) 16 November 2008
I do agree with the opinion as maintioned above but I would like to add some thing more. That the following documents ca be treated as documents of title and can be deposited for the urpose of equitable mortgage as security for the advance.(1) ROR(PATTA) (2)Sale deed, (3) Gift deed, (4) Lease deed, (5) Probate of a will or Will.
N.Ramakrishnan (Advocate/ Senior Partner) 05 February 2009
The sale deed is the primary document of title to a property. Thereare a number of judgments which say that the Patta is not a document of title. Patta and other revenue records will only support the title deed and serves only a collateral purpose. Deposit of sale deed alone is sufficient to create EM
Thanks, Ramakrishnan ADV
Y V Vishweshwar Rao (Advocate ) 12 March 2009
You can create Equitabel Mortgage by depositing the Original Sale Deed and give a Certificate from MRO to the effect the ROR Books ar enot issued to you and also submit an undertakng to the Bank that ROR Title Books Books are not yet issued to you and you under take to deposit the ROR Books as and when issed to you . This will serve the purpose and the EM created by deposit of Regd Sale deed shall be informed to the MRO for recording the mortgage/charge even during the Mutation Process and pendign proceedigns for issue of ROR Title Books to you ----------------------------------------------------------
Y V Vishweshar Rao Advocate Warangla AP
V.V.RAMDAS (Advocate) 26 May 2009
Dear Mr Ramakrishnan,
I would not be agree with you. Because , take one example that in a particular area for the first time the survey and settlement has taken place by the governament and "X" has been supplied with an ROR(Record of Right) i.e Patta for the first time for a particular land by virtue of his posession and he he had/has no sale deed. In this case where from he got a sale deed ?.So here the Patta is the original title deed and he can go for mortgage by his Patta only along with E.C & Rent receipt.
anveshika (STUDENT) 11 November 2010
Can there be a equitable mortgage in the absence of a the sale deed? A very logical conclusion is no, however are there any judgments on the same lines?
Uday (Lawyer) 22 December 2010
An intention to create mortgage alone is sufficient to create a equitable mortgage. Even if the title deeds have not been deposited, but a mortgage has been created over the property, it deems that he has created mortgage over the property.
shakir sheikh (Legal Head) 13 November 2013
In Dohganna .vs. Jammanna (AIR 1931 Madras 613), it was pointed out that in case of pattas in respect of a land in Zamindari, if the land be at the disposal of the landlord at the time of granting the patta, prima facie such patta would not be a mere bill of rent but something more in order to create an equitable mortgage by depositing of the same
Full Bench of the Rangoon High Court in case of Chidambaram Chettyar v. Aiz Meah, AIR 1938 Rang 149 (FB) has reviewed the English and Indian authorities and has pointed out that in order to create a valid mortgage, it is not necessary that the whole, or even the most material of the documents of title to the property should be deposited; nor that the documents deposited should show a complete or good title in the depositor and it is sufficient if the deeds deposited bona fide relate to the property or are material evidence of title or are shown to have been deposited with the intention of creating a security thereon