Equitable mortgage
anirudha
(Querist) 23 July 2015
This query is : Resolved
Will registered Equitable Mortgage of certified copy of title deed with the sub registrar's office in one bank have precedence over EM of original title deed of the same property created later with another bank?
P. Venu
(Expert) 24 July 2015
What is your problem?
anirudha
(Querist) 24 July 2015
Please read the original query once again.
Rajendra K Goyal
(Expert) 24 July 2015
Equitable mortgage need not be registered. Registered mortgage differs from the equitable mortgage in this respect. In registered Mortgage, original title deed are not attached, details of property is enough in the mortgage deed.
Mortgage of first date (registered or equitable) would get priority over second mortgage.
anirudha
(Querist) 31 July 2015
Many thanks Mr. Goyal
T. Kalaiselvan, Advocate
(Expert) 31 July 2015
I agree with the views of expert Mr. Rajendra K Goyal. The memorandum of deposit of title deeds may be registered and not the title deed itself for mortgage loans.
