Tapash (Advocate) 04 July 2009
I am a owner of a premises. I wnat to know if my purchsed property be taken away by the Bank on the pretext that property was mortgage to secure a loan. There is no documents of equitable mortgage with the Bank but title deed was deposited without any terms and condition. What is the valid requirment to constitute a equitable mortgage.
If there is any answer to this, please inform me so
that I may save my property from Bank with citataion please, if any. Tapas
A V Vishal (Advocate) 04 July 2009
Dear Tapas,
It is not clear how the documents of the alleged property is with the custody of the bank. Further mere deposit of title deed is not sufficient to create an equitable mortgage, the other formalities like the loan docs etc.... are also required to prove that the property was mortgaged to secure a loan availed from the bank.
© 2024 LAWyersclubindia.com. Let us grow stronger by mutual exchange of knowledge.
