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How bank make loan against property secure,in india???
The Charge of Loan as mortgage is entered in the register of Sub-Registrar of assurances, which gets reflected whenever any search is carried of the property. Even duplicate documents are not issued.
Sir, could you provide me some refrence to the act or procedure mentioned for mortage So I can have it as the fact to prove.
There are mainly two types of Home loans given by banks: 1. Home loan and 2. Loan against property.
Loan against property is a collateral loan wherein as I said before charge is entered in the Sub-Registrar's registered. For more details, you may check :: www mondaq.com/india/x/16866/Financial+Services/Registration+of+a+Memorandum+of+Mortgage+by+Deposit+of+Title+Deeds
Where as for first type of loan some states like Gujarat, Maharashtra, Tamilnanu have started for compulsory registration of such loan deeds, and others are following.
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