Nagendra Rao (AM) 29 September 2016

Loan aganist agriculture land

Dear Sir,

One of my friend need money on urgent basis and he is ready to mortage an agriculture land of 0.53acers as per govt rate 12lacs and he requried 10lacs.

Which type of mortgage which safe gard my principal if won't pay. I am look such a mortgage that if my friend fail to pay the principal within 1 year then total 0.53acers shall be transfer to my name without consultation or signature requirement of my friend.

I request to kindly suggest please.

Reply Follow

2 Replies

adv.bharat @ PUNE (Lawyer) 30 September 2016

Nagendra rao u need to do Mortauge by depositing title deed in your favour for that u can prepare the draft in such way that you can't require his signature for the transfer of that land in your favour.

If u like my suggstion then kindly give THANKS on my profile.

1 Like

Nagendra Rao (AM) 30 September 2016

Originally posted by : adv.bharat @ PUNE
	Nagendra rao u need to do Mortauge by depositing title deed in your favour for that u can prepare the draft in such way that you can't require his signature for the transfer of that land in your favour. If u like my suggstion then kindly give THANKS on my profile.