Mutation of a mortgaged property

Hi,

Need to understand on following as I have mortgaged my properties( residential and Industrial) to bank for business loan .

1) Is it necessary for bank to demand mutation entry in revenue records of mortgage properties?

2) What is the purpose of mutation entry on mortgage properties?

3) Is there on line procedure to make mutation entry on mortgaged properties in Maharashtra? If so please share link.

4) In future, when loan is fully paid back to bank, what procedure needs to be followed as far as mutation entry is concerned?

Thank you.

T. Kalaiselvan, Advocate (Advocate) 03 January 2024

1. No, there's no necessity for that.

2. Registered mortgaged deed is sufficient to prove the loan on property.

3. You can search for a link in the government website.

4. If it is mutated on the wrong advice or misguidance then the owner has to once again apply for transfer of revenue records through the mortgagor.

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Thnak you for your input. Much appriciated.

T. Kalaiselvan, Advocate (Advocate) 03 January 2024

You are welcome for your appreciations.