Legal Question in Credit and Debt Law in India

according to indian law is it necessory to register the mortgage for each time taking the debt(once successfully repay the debt is for second time on same asset, same person, same financial institution) on same asset, same person and a same finnancial institution or it can deemed to that once register the mortgage needn't be register again for same purpose.or it is treat like fresh contract kindly guide me.


Asked on 12/08/09, 11:22 pm

1 Answer from Attorneys
Homi Maratha N.N. Maratha & Co.-Advocates

Hello.

Good Morning..

Yes it is compulsary to get it registered when you mortgage the property as per the The Bombay Stamp Act.

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Answered on 12/09/09, 1:16 am


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