answersLogoWhite

0

What is an equition?

User Avatar

Anonymous

13y ago
Updated: 3/21/2023

An equitable mortgage is also called as English mortgage which can be done by deposit of original title deeds of a person who intends to obtain loan from anybody, as security for the said advances. The said document in the custody of the person handing over the loan would be entitled to enforce the same as it would create a charge on the immovable property and could e enforced in accordance with the provisions of Transfer of Property Act pertaining to mortgages.

The person creating the mortgage is called as the Mortgagor and the person receiving the documents the Mortgagee.

User Avatar

Ashlee Farrell

Lvl 13
2y ago

What else can I help you with?