Home loan

jaspal singh (Querist) 15 December 2011 This query is : Resolved
which bank provide home loan for un-registered equitable mortgage

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Sailesh Kumar Shah (Expert) 15 December 2011
Not a fit query for this forum.

Devajyoti Barman (Expert) 16 December 2011
Yes this a platform for putting practical legal problems.

Advocate. Arunagiri (Expert) 16 December 2011
You can search for the bank, and may inform us also if any such bank.

Guest (Expert) 16 December 2011
You may have to personally consult the banks nearby you, as this community does not represent bankers organisation.

Raj Kumar Makkad (Expert) 16 December 2011
Almost all banks provide equatable mortgage without getting it registered.

malipeddi jaggarao (Expert) 16 December 2011
Previously if the bank accepts immovable property under equitable mortgage, the title deeds got verified, and title deeds are accepted creating an evidence that the deeds handed over to the bank with an intention to offer them as security. This does not require any registration. But because of increased number of frauds and also the concerned state governments do not wish to loose the revenue, even the equitable mortgage also attracts stamp duty but it is lesser than the legal mortgage. This is a sort of intimation to the Sub-Registrar/Registrar that equitable mortgage is created on the said property. This charge will reflect in the records of the sub-registrar. Perhaps no bank is authorised to waive this mandatory provision.

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