sanjit 22 December 2014

Registration of home loan agreement

Hi,

My friend has recently taken a home loan & wants to know whether the agreement entered into with bank (Notice of Intimation regarding mortgage by way of deposit of Title Deed) needs to be compulsorily registered. If yes, what is the time limit within which it has to be registered? Also, what are the repurcussions of not registering the same within the stipulated time?

I want an expert advice on this matter.

Thank you.

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4 Replies

Jai Karan Nagwan (consultant) 23 December 2014

Bank will do it, you need not to worry.

Jai Karan Nagwan (consultant) 23 December 2014

Bank will do it, you need not to worry.

sanjit 23 December 2014

By what I have read & understood from my friends the onus is on Mortgages not on the Mortgagee..

T. Kalaiselvan, Advocate (Advocate) 27 December 2014

What is your problem?, the bank knows what formalities to be followed in this aspect because it will be the bank who will be affected in case of default in repayment of loan. Clarify the issue with your local lawyer.