Mortgage and creation of charge
Querist :
Anonymous
(Querist) 30 March 2011
This query is : Resolved
The Mortgage deed for immovable property is executed in the month of December,2010 and registered in the Month of March,2011, which is fairly valid as per the registration Act. My query is that the Company has to file within 30 days of creation of the charge, in this case the date of creating the charge would be from date of execution or registration of the deed. Please guide.
R.Ramachandran
(Expert) 30 March 2011
Without registration the mortgage does not take effect. Therefore, the 30 days time period can be counted from the date of registration of mortgage.
Querist :
Anonymous
(Querist) 30 March 2011
thank you Mr. Ramchandran, in that case section 47 of Registration act will not apply here? can you cite a section which says mortgage can be effective only on regristration and not on execution.
R.Ramachandran
(Expert) 30 March 2011
Dear Anonymous,
Though after registration the document will take effect from the date of execution in terms of Section 47 of the Registration Act, for the purpose of intimating about the creation of charge you take the Date of registration for calculating the 30 days period. Suppose, you do not register the mortgage at all, can any one say legally that there is an enforceable charge of mortgage?
B.B.R.Goud.
(Expert) 05 April 2011
yes. i do agree with learned counsel friend. it is from the date of registration but not from the date of execution of the sale deed, which is of no use unless it is registered.
