Monday, March 26, 2012

NEED FOR REGISTERING MORTGAGES


NEED FOR REGISTERING MORTGAGES

Mortgage by deposit of title deeds (equitable mortgage) provided by section 58(f) of the Transfer of Property Act, 1882 is not required to be registered and there is no requirement of recording any written document for creation of such mortgage.

Taking advantage of this situation, a number of frauds have taken place by depositing multiple documents of title relating to the same property.

CERSAI REGISTRATION
Details of all the Equitable Mortgages by deposit of tiltle deeds are required to be registerd with CERSAI

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