Registered vs Equitable Mortgage: Gain a better understanding of these important mortgage distinctions

1
(No Transcript)
2
What Does an Equitable Mortgage Mean?
1.
2.
Equitable mortgages operate per the guidelines
outlined in Section 58(f) of the Transfer of
Property Act.
Mortgage terms are mutually agreed upon by all
parties involved.
3
What Does a Registered Mortgage Mean?

• Under this, the charge created on the property
  needs to be registered with the sub-registrar.

• The lender has the priority to recover dues using
  the mortgaged property over other creditors.

4
Distinctions Between These Mortgages
5
Registration Process

• An equitable mortgage requires the filing of
  title deed deposits.

• The registered mortgage must be registered at the
  sub-registrar office.

6
Stamp duty
A registered mortgage carries a 5 stamp duty,
and the overall process is somewhat complicated.
7
Risk involved
The risk of a fraudulent transaction from the
borrower's end is significant with an equitable
mortgage.
8
Points to Remember About Equitable and Registered
Mortgage
1.
2.
A registered mortgage necessitates proof of
ownership.
Lenders typically prefer registered mortgages due
to the security they provide.
9
In the eyes of lenders, registered mortgages are
the safest way to lend because they give them
priority during the recovery process.
10
Would Love to hear from you. Hero Housing Finance
Ltd. 09, Basant Lok, Vasant Vihar, New Delhi -
110057 Tel [phone] Email
customer.care_at_herohfl.com Website
https//www.herohousingfinance.com/ Visit here
Registered vs Equitable Mortgage Gain a better
understanding of these important mortgage
distinctions