Plz clarify diffence b/w
Swapnil (Student) (183 Points)
03 March 2014
Hai friends...Plz clarify me is there any difference exist between "MORTGAGE and PLEDGE"? or both are same.
2 Replies
ganesh narayanan
(article)
(36 Points)
Replied 03 March 2014
hai,
generally in the pledge the type of security is moveable and the pocession of the property remains with the lender.it is for a shorter period of time say with in 1 to 1.5 years.and the rate of interest is little higer compaired to mortgage.
in portgage the security is immoveable propertyand the mortgage asset remains with the borrower,the period will be long period and the interest rate is little less compaired to pledge.
CA PANKAJ
(business consultant)
(288 Points)
Replied 04 March 2014
Yes rightly said pledge is for movable property and mortgage is for immovable property.
2ndly is the time duration difference.
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