Legal Question in Banking Law in

mortgage by deposit of title deeds is called equitable mortgage. title deed of the immovable property are to be deposited and it should be against the debt as a security .

this is only created in Karachi and specified towns. now a days at all district headquarter.

registered mortgage is commonly knows as legal mortgage.

in this mortgagor remains in possession and transfer the legal title to the mortgagee. after paying the debt amount mortgagor can get it back otherwise after specified time mortgage can auction the property. it must be registered also.