Is equitable mortgage possible without promissory note? Is it possible not to make a promissory note but to include in the equitable mortgage agreement that money has been taken as loan?
TANMOY (director) 27 November 2009
Is equitable mortgage possible without promissory note? Is it possible not to make a promissory note but to include in the equitable mortgage agreement that money has been taken as loan?
Murtaza Chherawala (Proprietor) 28 November 2009
Yes it is possible. A Demand Promissory note is an additional precaution taken by Bankers and has no bearing on the mortgage per se.
Advocate Murtaza Chherawala
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