haradatta (proprietor) 19 May 2012
sir,
i am intending to advance a loan to my friend basing on him to deposit his property title deeds as security in repayment of his loan. Is the deposit of title deeds for the purpose of loan need registration or a mere custody of the documents shall be suffice in creating a mortgage over his property? Pls clarify. I am not a professional money lender and without any money lending license.
karnav shah (Executive MBA (Criminology) MBA (Finance) Doctorate (Management)) 21 February 2013
If you trust your firned, it is sufficient to have tite of deed deposited, as equitabe mortgage as it incure no cost for registration, however registration will give your highest security as it gives your first right in the said property.
You need to be bank or license to mortgage registration.
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