Extension of Equitable Mortgage
This query is : Resolved
08 December 2009
Sir,
I presume that Equitable Mortgage is deposit of title deeds with a Bank for a loan.
The Bank has the Property over the assets. The Company cannot sell the property, till the loan is paid off fully.
Hope my perception about Equitable Mortgage is correct. Please let me know whether I am right.
Now, what is the extension of Equitable Mortgage.
Please let me know, what all requirements should be met by company while going for extension of Equitable Mortgage.
Kindly clarify by example
I presume that Equitable Mortgage is deposit of title deeds with a Bank for a loan.
The Bank has the Property over the assets. The Company cannot sell the property, till the loan is paid off fully.
Hope my perception about Equitable Mortgage is correct. Please let me know whether I am right.
Now, what is the extension of Equitable Mortgage.
Please let me know, what all requirements should be met by company while going for extension of Equitable Mortgage.
Kindly clarify by example
08 December 2009
Your concept about equitable mortgage is correct.
Extention of equitable mortgage is required when loan is not paid in three years. After three years; all the documents have to be signed with the bank which authorize the bank towards securities given for loan.
CA Rakhecha
Surat
Extention of equitable mortgage is required when loan is not paid in three years. After three years; all the documents have to be signed with the bank which authorize the bank towards securities given for loan.
CA Rakhecha
Surat
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- STATUTORY AUDIT OF A SMALL PRIVATE COMPANY INCORPORATED ON 28.03.2025
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
- Resigning a auditor from the company for misconduct
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
- LLP audit under companies act
- Experienced CA recommendation from Kolkata for FNO return filing
- Interest Reporting in Form 168
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
