Legal Question in Real Estate Law in India
A bank has executed a Equitable Mortgage deed 7 years before against the specific loan amount. Now same bank has sanctioned enhanced loan amount to same person/firm with extra collateral security for mortgage. Bank will execute supplementary deed for continuation of last one, but when banker will go for charge creation at Registrar office only new property can be charged. Older properties that was only Mortgaged with bank by submission of title deed now how can we create charge on older property.
Asked on 10/24/10, 3:46 am
1 Answer from Attorneys
Shrichand Nahar
S.V.Nahar, Advocate
Creating additional charge may be the solution.
Answered on 11/02/10, 12:49 am
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