20 April 2009
Equitable mortgage is evidenced by deposit of title deeds of the immovable properties. It is not to be created by a written deed, ( if it is in writing, it needs to be registered as per transfer of property act). Equitable mortgage is a simple deposit of title deeds for securing debts. The memorandum of having deposited the title deeds (as EM) can subsequent to the time of creaion be recorded in writing and the memorandum even be registered with less stamp duty. But Registered mortgage is in writing at the time of creation, stamped, and registered.
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