Loan Against Property With Low or Bad Cibil Score(Credit Score) – Instant Cash in 2 Minutes

On-Spot Cash In 2 Minutes – Hand-to-Hand Payment

Only Genuine and Bonafide person need contact Only

Contact – 8800454233

A loan against property is also known as a Mortgage and in Hindi language, it is known as Girvi or गिरवी रखना.

A STEP-BY-STEP GUIDE FOR OBTAINING A LOAN AGAINST PROPERTY WITH A LOW OR BAD CIBIL SCORE (CREDIT SCORE)

How to get loans against property with bad credit score/ Low Cibil Score/ Poor Credit in India?

If you are In India with bad credit and looking for a loan against property or home loan, this article will help you obtain a loan.

First of all, let’s understand the meaning of ‘credit score’ or ‘Cibil Score’

What is the meaning of CIBIL Score and how it is important in getting a Loan Against Property?

CIBIL Score is a system /mechanism under which every person and individual is categorized on the basis of his previous credit history which includes payment and default by such person. Every timely payment will increase the score and every default will decrease the score. The total number attained/scored will describe the risk involved in giving the loan to such a person.

Practical Use of Cibil Score by Banks:

Banks and Financial Institutions lend money largely based upon Cibil Score. Those having a Cibil score over 800+ will get a loan very easily, that too at a lower rate than others.

A person having a low cibil score will not get a loan, at all from the Banks, or even if he gets it, the interest charged will be at a higher rate than the person having high Cibil Score.

LOAN AGAINST PROPERTY WITH BAD OR LOW CIBIL SCORE :- Solutions for individuals to avail of a Loan against the property if CIBIL Score is Low or No Credit History

1. Individuals With Bad Credit Can Take a Loan against Property in their spouse’s Name or a Joint Loan:- An individual not having a credit history or a bad Cibil score or bad credit score will not get a Loan from a Bank at all but a Loan can be availed by applying in the name of Spouse. If the credit score is not very bad but just on the Lower Side then the applicant can avail loan by applying jointly with a spouse if the spouse’s score is high or higher.

2. Individuals With Bad Credit Can Add or introduce Guarantor (Parent/Relatives/Friends/Colleagues/Friends working in the same business/office whose credit score is Good)

In the same manner as above if the Credit score is low then the prospective loan availer/ government employee can also introduce or add Loan Guarantor to substantiate that the loan given will not be defaulted or if defaulted, the guarantor will repay the loan or it can be recovered from the Guarantor. Bank will only accept the guarantor as guarantor of the loan if he has a good Cibil score/Good Credit History.

Guarantor has to sign the loan application along with the applicant. Will have to give an indemnity bond and also will have to give consent to Bank for becoming a guarantor by signing other formal documents as and when Bank officials ask for. Do not make those persons as a guarantor who already has bad credit, they should be having a decent Cibil Score for a loan to get approved.

3. Individuals With Bad Credit Can Approach Alternative Lending Institutions like Co-operative Banks, NBFC’s, Micro Finance Companies etc:

Several other lending institutions like Co-operative Banks and other financing companies have relaxed lending rules and policies in comparison with a Bank. The government employee with a low Cibil score is more likely to get a loan from these other institutions relatively easier than a Bank. Co-operative Banks are a best-trusted alternative with customer volume in several lakhs.

4. Individuals With Bad Credit Can Take Loans against property from Friends and Family:- Individuals/persons looking for loans against property can arrange a loan from friends and family relations and the parties can write down the terms and conditions for repayment of the loan amount. It can also be interest-free. The relatives and friends trust those friends who are in a government job and are considered simple and reputed citizens of society.

5. Individuals With Bad Credit Can Take Loans against Property From Private Lenders / Private Financiers can be approached but their rate of interest is very high.

6. Peer-to-peer (P2P) lending -: An organized form of Private Lending where the money is given by private individuals to other private individuals. One Peer to another peer. No RBI Regulation so far.

7. Improve CIBIL Score:- (a) Take very small loans (b)Timely Repayment /full payment be made and not in part without default.

8. Individuals With Bad Credit Can Approach Bank Manager/Concerned Officer of the Bank directly:-

By approaching the concerned officer the loan can be sanctioned. Usually, concerned official has some discretion to allow or reject a loan and the concerned official who is usually a bank manager can grant loan facility to some individuals using his discretionary power.

If a person willing to avail loan from a Bank has a low Cibil Score then he cannot do much about it if banking institution is discarding the person from giving loan then he can only wait for his Cibil to get improved over a period of time ( which can be a lot of time) or look for private money lenders or financiers

Money Lenders/Private Lenders/Private Financiers are there in the money lending market, who give / grant loan facilities to persons in need of money.

These money lenders lend money to people at large without any CIBIL Check, they lend money to people from all walks of life. These money lenders/private financiers will prefer to give loan. Low Cibil Score or Bad Cibil Score does not bother them but they charge interest on the loan amount heavily. They are also known as loan sharks in the money lending world. They are also known to use muscle men/recovery agents in case the person who has taken the loan does not repay the interest/loan amount.

A Loan Against Property/Mortgage is a transfer of an interest in immovable property.

* A Loan Against Property/Mortgage debt is not an actionable claim. It is the transfer of an interest in immovable property. Without a transfer of interest, there is no question of there being a mortgage. Mortgage debts constitute immovable property

* The very definition of a Loan Against Property/Mortgage, as per Section shows that it is nothing more than a transfer of an interest in a specified immovable property and all that the mortgagee gets is not the legal ownership of the property but merely an interest in immovable property. While the relationship of debtor and creditor subsists in the case of mortgages, but, most importantly, the right to redeem remains with the debtor.

* In order to create a Loan Against Property/Mortgage by deposit of title deeds, all that is necessary is a mere handing over of title deeds with the intent to create a mortgage over the property. No formal document is necessary. It is the practice that often a memorandum/letter of acknowledgment of the creation of a mortgage or a letter of acknowledgment of deposit/handing over of title deeds is obtained from the mortgagor. The purpose behind the execution of such a document is document is to acknowledge the fact that the title deed/s referred to therein relating to the particular property has been deposited/handed over by the party to the creditor with the intent to create a mortgage. A mortgage is created by the deposit of the title deed and not under the memorandum or letter of acknowledgment.

*Loan Against Property/Mortgage its Scope Connotes the transfer of interest in an item of immovable property, as a measure of security for repayment of the amount borrowed by the owner of such property of the Act not only enlists the categories of mortgage but also prescribes the manner in which a mortgage can be brought into existence.

* A Loan Against Property/Mortgage debt creates an interest in property in favor of the mortgagee whether it is by way of first mortgage, second mortgage, or successive mortgages.

* Unless it is shown that the document incorporates all essentials of Loan Against Property/Mortgage, it cannot be deemed to be a mortgage by itself, so as to require registration.

* When the owner of the property hypothecates the property, he ceases to have any interest in it. The ownership is a bundle of rights that the transferer some of those rights to the mortgagee, and the remainder of them still remain with him and can be transferred.

*The sale of right of redemption is a sale of an intangible immovable property that can be effected only by a registered instrument.

* Where respondent took loan from Bank and undertook to create a Loan Against Property/Mortgage by deposit of title deeds, however, no mortgage was in fact executed, held, a mere undertaking to create a mortgage is not sufficient to create any interest in any immovable property.

*A mere undertaking by the borrower of money that he will not alienate his property until the loan is paid does not transfer any interest in the property to the creditor and a document merely containing such an undertaking is, therefore not a mortgage

*When the provision of S. 58(a) and S. 58(f) provides that Loan Against Property/Mortgage is required to demonstrate that the mortgagor had delivered to a creditor or his agent document of title with intent to create a security thereon, mere holding of the sale deed by petitioner bank is not enough to conclude on existence of mortgage in the absence of document showing that after observing necessary formalities the mortgagor had created the mortgage of disputed property by depositing original title deed.

*Where a covenant not to alienate is associated with words expressly making property a security for the debt, there may be a transfer of an interest constituting a Loan Against Property/Mortgage .

*Whether there is a transfer of an interest depends upon the intention of the parties gathered from the document as a whole.

*It is not necessary that there should be a formal transfer of interest in so many words.

*Where a bond provided for repayment of a debt and stated “as collateral security I mortgage 23 bighas”, etc., but there was no express transfer of any interest, it was held that it was a mortgage.

*Where A and B executed a mortgage to X and subsequently, A borrowed a further sum of money from X and executed a further deed stating that until the latter sum was paid he was not entitled to redeem the earlier mortgage, it was held that the deed was a mortgage.

*A executed a mortgage in favour of B, C and D. On a partition between B, C and D the mortgage fell to the share of D. A subsequently executed an instrument in favour of D recognizing D as the sole mortgagee, raising the rate of interest and stipulating for an extension of the period of redemption. It was held that this was not a fresh mortgage but merely an agreement.

*Where by a compromise between the mortgagor and the mortgagee, the mortgagee released certain items from the mortgage, it was held that this did not effect any fresh transfer of interest to the mortgagee in respect of the nonreleased portions and was therefore not a Loan Against Property/Mortgage .

*Executant of bond admitting receipts of certain amount from obligees and agreeing to pay interest regularly. Stipulation that in default of payment of interest obligees would be out into possession of certain property referred to as mortgaged property — Obligees to enjoy usufruct and appropriate profits to interest – Held, that there was transfer of interest in property contingent upon default being made in payment of interest and bond was Loan Against Property/Mortgage bond from date of its execution.

*While an application under 0.21, R.90 made by the judgment-debtor was pending a compromise was entered into by the parties, on condition that the sale was not to be confirmed for a period of 12 months, by which period the amount mentioned in the compromise was to be paid by the judgment-debtor to the decree-holder and the sale was to be set aside if the amount was so paid but if the payment were not made the sale was to be confirmed: Held, that the compromise petition did not constitute a deed of transfer by the judgment-debtor in favour of the decree- holder by way of an ostensible sale.

*Debentures issued by a company are not mortgages, though they bind the estate of the company.

*Where a person states in the document that he had “mortgaged” the property, it will be assumed that he intended to transfer an interest in the property.

*A Loan Against Property/Mortgage being a transfer of an interest in immovable property such interest is capable of transfer by way of assignment, mortgage, etc., and is heritable.

* Document transferring property coupled with consideration of Loan Against Property/Mortgage amount and period of the mortgage, also recites enjoyment of property not only by mortgagee but also by successor, makes complete transaction or mortgage.

*From the time of lending his money, the mortgagee, whether he be in or out of possession acquires the right to have the mortgaged property secured from deterioration in the hands of the mortgagor or of any other person to whose rights those of the mortgagee are superior.

*Ownership is a bundle of rights and merely because the owner mortgages his property, it cannot be said that he is not entitled to transfer the property itself thereafter. In a Loan Against Property/Mortgage , the mortgagee gets an intangible right for the purpose of securing the payment of debt or the performance of an engagement which may give rise to a pecuniary liability. Only the owner i.e. the mortgagor, can transfer the property itself, subject to the interest which he has transferred to others, out of the totality of his rights which constitute the ownership.

*The Loan Against Property/Mortgage is a transfer of an interest in specific immovable property. Having transferred the interest the mortgagor is not free to deal with the property in the manner, he considers appropriate. His rights are subject to the consent of the mortgage.

*Where a person delivers to a creditor documents of title to immovable property with intention to create a security thereon, the transactions is called a mortgage by deposit of title deeds.

*Settlement/rectification deed was an unregistered document hence It could not create any mortgage. A Loan Against Property/Mortgage to be effective has to be by a registered instrument. Mere casual reference of mortgage by way of conditional sale cannot change this settlement/rectification deed into a mortgage deed.

*Loan Against Property/Mortgage Suit for eviction on ground of

arrears of rent

Plaintiff sold suit accommodation to defendant for loan wherein Rs. 30/- was to be paid as rent per month-Also repurchase agreement executed on same day whereby defendant agreed to resell suit accommodation on payment of loan amount document such as sale deed, rent note and agreement to repurchase executed on same day Such transaction is mortgage No landlord tenant relationship created.

*Lease or Loan Against Property/Mortgage Agreement entered into between parties “on no rent and no interest basis” Landlord not required to pay interest on deposit received from tenants and in turn tenant need not pay any monthly rents to landlord for having occupied premises -It is lease agreement and not mortgage-There exists relationship of tenant and landlord between parties.

*Loan Against Property/Mortgage or lease- Plaintiff handing over suit shop to defendant through registered document containing recital that in event of failure of mortgagor to redeem mortgage, mortgagee can suit mortgagor and in such a case, he can realize amount from suit shop- document is deed of mortgage and not lease.

* The guidelines for deciding whether a transaction is a lease or a mortgage contemplated that the name given to the document is not conclusive. The question has to be decided with reference to the predominant intention of the parties as gathered from the recitals and the terms of the document and the surrounding circumstances including the conduct of the parties.

*Loan Against Property/Mortgage of bhumiswami Land-Even after creation of change or mortgage the mortgagor continues to be Bhumiswami of land and he can transfer right of ownership to third person on whom change or mortgage would be binding. The sale would be subject to change or mortgage.

* Mortgage and charge – Distinction. (1) It is well known that a mortgage constitutes a transfer of interest but a charge does not with result that a transferee from a mortgagor gets the property subject to the interest of the mortgagee even if such a transferee purchase without notice of the Loan Against Property/Mortgage . But the same thing cannot be said of a charge. Charge does not operate as transfer of interest in the property and a transferee of property gets the property free from the charge provided he purchases it for value without notice of the charge.

*The interest referred to in this section has reference to interest less than ownership which continues with the mortgagor. The interests transferred in the several classes of mortgages are not identical.

*A Loan Against Property/Mortgage being the transfer of an interest in immovable property is distinguishable from a charge, which is a security of property without any transfer of any interest therein.

* Though there is no transfer of an interest in the case of a charge the right is more than a personal obligation being a right to payment out of a particular fund or property.

*A document which gives immovable property as security for the satisfaction of a debt, or for payment in future of a sum without transferring any interest therein, merely constitutes a charge on the property and is not a Loan Against Property/Mortgage.

*Where in a Loan Against Property/Mortgage there is a covenant to pay and a charge on property, it implies that the property may be sold for the debt and the mortgage is a simple mortgage.

* A usufructuary mortgaging land to B – Subsequently A taking further advance from B on security of land already mortgaged on same condition as original mortgage-Transaction held to be charge and not fresh mortgage.

*If the new transaction purports to cancel the earlier one, or contain conditions substantially different from those contained in the original Loan Against Property/Mortgage or an additional area of land is included in this security, the transaction may amount to a fresh mortgage as evidencing an intention to transfer an interest in property and not merely to create a security.

*A charge is not, like a Loan Against Property/Mortgage , subject to redemption or foreclosure.

*An agreement to pay annuity to a person and his descendants from generation to generation making it a charge over property, creates a charge and not a mortgage.

* Where the true nature of the contract between the parties is one of a charge, the erroneous belief of the parties that they had created a simple Loan Against Property/Mortgage would not affect such true nature of the document.

*The word “taran” is ordinarily understood to signify a charge rather than a Loan Against Property/Mortgage .

*Agreement to sell house property by registered document – Earnest money paid as part payment of price-Sale to be held within 4 months subject to the approval of owner’s title Condition that if vendor does not complete sale, earnest money would be due and payable by him and that would be the first charge on property and the purchaser shall be able to enforce the charge by a suit. Held, the transaction amounted to Loan Against Property/Mortgage .

* Sub-mortgages.

*A mortgage by the mortgagee of his right is called a sub-mortgage.

(2) All the provisions of law applicable to mortgages will apply to sub-mortgages also, such as attestation, registration etc.

(3) A mortgagee can effect an equitable sub-mortgage of his right by deposit of the mortgage deed.

(4) Where the original mortgage is itself one by deposit of title deeds the mortgagee can create a sub- mortgage by a second deposit of such title deeds.

(5) Mortgagee’s right to realize the amount secured by the mortgage is itself property and he can either assign it or create a security over it. If he chooses to make one assignment, the Loan Against Property/Mortgage rights would pass to the transferee. If he chooses to create a mortgage over his mortgage, there is no passing of a title.

*A sub-mortgagee has no privity of estate or privity of contract with the original mortgagor. So far as the sub-mortgagee is concerned the privity of estate and privity of contract are between the mortgagee and the sub-mortgagee and as such the sub-mortgage can be put an end to by redemption or by release only by the original mortgagee.

* If the person representing the mortgagor wants to redeem the original mortgage he can terminate the sub-mortgage by making the sub-mortgagee also a party to that suit. But the mortgagor has no right to directly terminate the sub-mortgage independent of the mortgage.

*A sub-mortgagee is entitled to be paid, the amount due to him under his sub-mortgage in priority to the claim of a subsequent assignee of the mortgage

rights.

* The sub-mortgagee without privity of the mortgagor only takes subject to the state of account between the mortgagor and the mortgagee at the date of the sub-mortgage.

* A sub-mortgage is extinguished by the payment of the mortgaged-debt by the mortgagor if he has no notice or knowledge of the sub-mortgage, and acts in good faith.

* If the original mortgagor has notice of the sub- mortgage he cannot make any payment to the mortgagee so as to bind the sub-mortgagee.

* Original mortgagor having notice of a sub- mortgage cannot dispossess the sub-mortgagee (where the mortgage is with possession) without redeeming him.

*Where the sub-mortgagee brings the mortgagee’s interest to sale and purchases it himself he cannot resist a suit by the mortgagor for redemption of the original mortgage.

The position of a mortgagee in relation to the sub-mortgagee is closely analogous to that of a surety.

*A mortgagee cannot by taking a fresh mortgage in discharge of his earlier mortgage, prejudice the rights of his sub-mortgagee to proceed to bring the mortgagee’s rights under the earlier Loan Against Property/Mortgage to sale.

*The mere fact that a mortgage right is sub- mortgaged for a higher amount is no reason for holding that the rights of the original mortgagee ceases to exist after the date of the sub-mortgage.

*In a suit by the mortgagor for redemption against the mortgagee and his sub-mortgagee, the proper form of the decree is that upon the amount due to the mortgagee being paid into Court, the mortgagee and the sub-mortgagee should reconvey the estate to the mortgagor; the mortgagor is not bound to wait until the accounts between the mortgagee and the sub- mortgagee are settled.

* In a suit by the mortgagor for redemption against the mortgagee and his sub-mortgagee, the judgment should direct an account of what is due to the original mortgagee and then of what is due to the sub- mortgagee and upon payment to the latter of the sum due to him not exceeding the sum due to the original mortgagee and upon payment of the residue, if any of what is due to the original mortgagee, both shall reconvey the property to the mortgagor.

*Where pending a suit for redemption against the mortgagee and the sub-mortgagee the mortgagee dies and his representatives are not brought on record, the suit abates as the mortgagor has no cause of action against the sub-mortgagee.

**Agreement to grant or accept a Loan Against Property/Mortgage .

(1) An agreement to give a Loan Against Property/Mortgage , merely creates a right in the promisee to get a regular deed of mortgage and does not of itself create any mortgage or charge upon the immovable property dealt with by the agreement.

(2) An agreement to Loan Against Property/Mortgage for a sum of money to be advanced cannot be specifically enforced though a suit for damages for breach of such a contract will lie.

Unless the plaintiff shows that compensation would not afford adequate relief or that he has actually advanced money on the promised Loan Against Property/Mortgage .

* A Loan Against Property/Mortgage holds good to the extent of the amount paid. Where any part of the amount agreed to be advanced remains unpaid, a suit will not lie for recovering such part.

*Where money has actually been advanced and subsequently the borrower agrees to Loan Against Property/Mortgage property to secure such advance, such an agreement can be specifically enforced.

*The principle that an agreement to lend a sum of money is not specifically enforceable, has no application where money has been left with the mortgagee to pay off the mortgagor’s creditor and on the failure of the mortgagee to do so the mortgagor sues to recover the money.

* Where the mortgagor allows the loan to remain with the mortgagee on the understanding that it is to be taken by him from time to time, a suit for its recovery is not one to enforce a contract of loan but merely one for recovery of a deposit.

*Property Loan Against Property/Mortgage usufructuarily – Possession not given, property being seized by Collector under decree against mortgagor – Mortgagee held entitled to damages for non-delivery of possession.

*Subsequent oral agreement allowing usufructuary mortgagee to remain in possession for a further period in lieu of interest on debt incurred subsequent to mortgage-It amounts to an additional usufructuary mortgage and not a charge.)

* If the agreement is merely to execute a mortgage as and when called upon to do so, the fact that a subsequent mortgage is called for and executed will not make the debt and the mortgage part of the same transaction but the debt will constitute an “antecedent debt” within the meaning of the Hindu law.

*When mortgage deed executed in favour of defendant where principal amount secured is Rs. 20,000/-, it is required to be registered by law. No right or interest shall accrue to the petitioner on basis. of an unregistered mortgage deed.

* Unregistered deed stipulating period of Loan Against Property/Mortgage and also that before expiry of such period mortgagor was not entitled to redeem – Mortgagor agreeing to pay municipal taxes etc. relating to mortgaged property It is unregistered mortgage deed – Merely because execution of registered deed was contemplated by parties – Deed would not be held to be agreement to execute mortgage deed in future.

** Oral Loan Against Property/Mortgage .

*Oral Loan Against Property/Mortgage in villages are not uncommon and a mortgagee is satisfied when an entry in the revenue record is made in his favour.

* Revival of earlier mortgage.

(1) Where a new security is accepted in lieu of an old one but the former is found to be invalid, the mortgagee can fall back upon the earlier one.

(2) Mortgagee accepting new security for old one from reversioners

-Later mortgage found not binding on reversioners in suit on that mortgage-Reversioners held could not claim that invalid mortgage operated as release of old mortgage.

(3) Mortgage in favour of Land Mortgage Bank cannot take precedence over earlier mortgage in favour of other person. Banks does not empower the Land Mortgage Bank by enforcing the mortgage in its favour to wipe out all the earlier encumbrances over a hypotheca.

**Muhammadan widow’s possession in lieu of dower.

(1) A Muhammadan, widow retaining possession of her husband’s property in lieu of dower is not a mortgagee of the property.

(2) In the case of a Muhammadan widow in possession in lieu of dower, neither the possession of the property nor the right to retain that possession when acquired is conferred upon the widow by the agreement or by the bounty of her deceased husband. The right of the widow to retain it till her dower-debt is paid is conferred upon her by the Muhammadan law.

(3) A Muhammadan widow’s right to retain possession in lieu of dower is not transferable.

**Specific immovable property.

(1) For the creation of a valid Loan Against Property/Mortgage the property mortgaged must be specific. (General description not sufficient.)

(2) Where in the document no specific immovable property is mentioned which was to serve as security for the loan that was raised and it was merely stated that 231⁄2 bighas of land of one debtor and similar area of land of the other debtor were given possession of, no mortgage was created.

(3) A mortgage in addition to creating the pecuniary liability also transfers interest in the specific im- movable property to secure that liability; nonetheless the loan or debt to secure which the mortgage is created will remain a pecuniary liability of the person creating the mortgagee.

(4) If the hypotheca is sufficient precise to enable the property to be determined even after a lapse of time, it is “specific” property.

(5) Where the mortgagor purported to give in the earlier part of the deed the properties described in the scheduled to the document and later on added “all other mouzas, mahals etc., comprised in the sanad”, it was held that the properties comprised in the sanad were also mortgaged, though not referred to in the schedule.

(6) Where the instrument purported to pledge certain specified properties as well as certain properties not specified but mentioned in general as “I have pledged to you the properties in villages A, B, C etc.”, it was held that the Loan Against Property/Mortgage attached only to the specified properties.

Department can proceed only against the equity of redemption in mortgaged property.

(10) A right to specific performance of an agreement to sell is not an interest in immovable p and cannot be the subject of a mortgage.

(11) Profits that would accrue from immovable property in the future do not constitute an interest in immovable property and cannot be mortgaged.

(12) A life insurance policy is neither immovable nor movable property and therefore cannot be the subject of mortgage.

(13) Conveyance of property to mortgagee in satisfaction of his mortgage-Indemnity clause providing that in case mortgagee was put to loss for defect in title he was entitled to realize it from “entire movable and immovable property of me and all my heirs and representatives” – Stipulation held did not create mortgage.

(14) A building is a thing attached to the earth. A house being imbedded in the earth is immovable property and when land is transferred by way of mortgage, buildings erected upon it was by necessary implication to the transferee.

Mortgage and pledge of future property.

(1) A mortgage of property that may come into existence in the future operates merely as an agreement to mortgage such property when it comes into existence.

(2) Even in a hypothecation of movable property the property must be existing.

*Mortgage of moveables.

(1) The section does not apply to a mortgage of movable property.

(2) A mortgage of movable property is valid and a decree can be passed in enforcement of the mortgage.

(3) Under Indian Law there can be valid mortgage of movables though such a mortgage may be different from such mortgage at English common law or under Bills of Sales Act. Such a mortgage when not accom- panied by delivery of possession is still operative save and except against bona fide purchases without notice.

(4) Mortgage of movable property – Mortgagee is entitled to sell property in execution.

(5) Delivery of possession is not necessary for a mortgage of movable property.

(6) The mortgagee’s right is only to enforce the mortgage by suing for sale of movable property or by the appointment of a receiver to secure possession of it.

(7) Mortgage of movable property – Possession delivered to mortgagee Mortgagor after proper notice failing to repay-Mortgagee can sell property without intervention of Court.

(8) A mortgagee of movables without possession is liable to be defeated by the mortgagor selling the property to a bona fide transferee without notice.

(9) Mortgage of produce of land – Land subsequently leased – Standing crop on land claimed by mortgagee before its removal- Mortgagee’s title must prevail over lessee with notice of mortgage.

(10) Mortgage of movable property is to be distinguished from pledge – In former case ownership of goods passes-In latter case pledgee gets possession but no right to goods beyond what is necessary to secure debts. (Mortgagee acquires general property in thing mortgaged but pledgee has only special property-There can be mortgage or pledge of shares – Instrument of security along with blank transfers without more does not mean mortgage.)

(Mortgage of machinery-Mortgagor remaining in possession paying interest equal to rent – Transaction is hypothecation and not pledge.)

** Mortgagor of movable property may be entitled to sue for redemption

“CONTACT PROCESS “

Collect all the necessary/essential documents and send email to [email protected]

After sending the email, call on 8800454233, ensure that the email has reached and take time to contact/connect again.

Email :

Send necessary details along with necessary documents.

Please note :-

Without telephonic confirmation of the receipt of the sent email, no documents will be processed/checked/cross-checked.

· Keep in contact

We are also occupied in Cash Loan and physical Gold Trading.