Thank you for asking this question
An Equitable Mortgage- 1. It is an agreement signed between Lender and Borrower
2. Title Deed & Property Documents deposited with Lender.
3. Stamp Duty is Low.
4. After Payment of Dues Lender hands over all property docum- ents to Borrower and gives "NO" dues Certificate.
5. Process is simple without hassles.
6. Risk is higher.Chances of multiple mortgages.Seller may sell
the property w/o Buyer knowing about Mortgage Loan.
Hope this will help you