What is the difference between mortagage and charge?
Mortgage and charge
sankar (Manager in Rank Silicon And Industries Pvt Ltd) (63 Points)
02 June 2011
2 Replies
valji
(Accounts manager-MBA)
(2150 Points)
Replied 02 June 2011
when any loan taken against security from bank you mortgage security to the bank
bank create charge under ROC against this property so that bank secure
Rajnikant Vadigoppula
(CA, CS And CMA Final)
(919 Points)
Replied 04 June 2011
charge includes mortgage.
charge is wider concept then mortgage.
mortgage is of only fixed nature example mortgage of stock, land buiding etc.
But charge is fixed as well as floating charge.
floating means charge on all assets including future assets.
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