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The mortgage deed is the legal document, where the borrower agrees to mortgage his property for the loan amount agreed by both the parties of the deed. A mortgage deed is defined as a document that provides the lender or mortgagee for the legality in terms of right and interest in the property. When a mortgagor pledges his property as collateral in obtaining a loan, the lender's ownership in the deal is legalized in the mortgage deed. The mortgagor signs it along with the attestation by at least two witnesses.
TYPES OF MORTGAGE
When a mortgagor binds to pay the mortgage amount as per the loan or gives the right to the mortgagee to sell the property and proceed towards the loan, then it is called as a simple mortgage. In a simple mortgage, the possession of the property is not delivered to the mortgagee.
When mortgagor sells the property to the mortgagee with a condition, that the sale will become absolute in case of payment default, then it is called a mortgage by conditional sale. If the payment is made to the mortgagee as mentioned in the terms and condition, then the mortgage of the property is held to be void.
When a mortgagor delivers the possession of a property to the mortgagee and authorizes him to hold the possession of the property until the payment of the debt, then it is known as an Usufructuary Mortgage.
When the mortgagor delivers to the mortgagee the title to the immovable property, with an intent to create security until the payment of debt, it is known as Mortgage by deposit of title deeds.
Any mortgage which is not a simple mortgage or usufructuary mortgage or mortgage by conditional sale or a mortgage relating to deposit of the title deeds is held to be an anomalous mortgage.
The validity of Property Mortgage
Any mortgage other than a mortgage relating to the deposit of title deeds is valid only if the mortgage is entered by way of a registered instrument that is signed and attested by the mortgagor and at least two witnesses.
Mortgage Deed includes the following details:
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You need to select one of the Lawyers considering your case category and profile of the Lawyers. Once you are sure with the Lawyer, you need to select call option given in the profile page of the Lawyer, in the website as well as in the mobile app. After selecting the call option,the time slot needs to be selected, and payment needs to be made for confirmation of the call consultation. At the selected time our system shall connect you and Lawyer We have half an hour time slots placed for every call consultation and after said time slot selected call shall automatically get disconnected.
Kindly make sure that you keep all information and documents about the matter handy before the time of call so that to avoid any delays.
In an event where you miss the call at the selected time, our system shall dial-in the call again after 5 minutes as a second attempt. In case of failure of the second attempt,the system shall try after another 5 minutes as a third attempt.
After the failure of the third attempt, you need to contact our support team (contact details shared on the website) so that they can talk to respective Lawyer, and reschedule the time of the call.
In such an event you can contact our support team (contact details shared on the website), and they shall be assisting you as quickly as possible in completing your call.
Yes, they are diligently verified. For your ease, we have mentioned their bar council number as well so that their identity can be checked from Indian Bar Council.
Definitely yes. We are using high-end technology and SSL certificates to secure data. In addition to this,we are using AWS secured cloud storage together with 256-bit encryption. Further, we are using Paytm as our payment gateway, which is highly secured as per legal standards.
We are using high-end technology and SSL certificates to secure data. In addition to this,we are using AWS secured cloud storage together with 256-bit encryption.
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