The ‘Transfer of Property Act 1882’ says “A mortgage is the transfer of an interest in specific immovable property for the purpose of securing the payment of money advanced or to be advanced by way of loan, an existing or future debt, or the performance of an engagement which may give rise to a pecuniary liability”.

To advance home loans and loan against properties, banks and HFCs (Housing Finance Companies) seek security in the form of mortgage of property to be funded. In case of default of loan repayment, lenders will have the legal right to enforce the security to order to recover outstanding debt along with interest and other charges.

As there are only two types are mortgages in practice, viz., mortgage by deposit of title deeds, and registration of memorandum of deposit of title deeds, let us analyse the pros and cons of both. The first is commercially known as ‘equitable mortgage’. Thanks to the simple, easy and less expensive procedure involved in creating ‘equitable mortgage’, today a majority of home loans are backed by equitable mortgage.

Benefits of doing this Online Course from IALM:

An equitable mortgage is a popular mode of securing a loan nowadays.

• Home loan lenders, bankers and others find this method of securing the loan as easy, less complicated and cost effective.
• The present programme seeks to impart awareness about this mode of loan security and its legal implications.
• Those working in home loan companies, real estate companies, real estate builders, banks and financial institutions will find this course of immense use to  increase their productivity at the work place.
• The students of law, advocates and legal executives will also get benefited by this course. Lastly anyone loving knowledge of law can get  enlightened by doing this course.

Other Important Information About This Online Course 

• Maximum Duration to complete the Course: 35 Days
• Course Fees: Rs. 4000/- (Several Payment Options Available: Credit & Debit Cards, Cheque, Demand Draft, Cash, Wire Transfer – NEFT, PayTM)
• Online Evaluation Method: Based on “Multiple Choice Question (MCQs)” and an “Assignment Submission” of 500 words.
• The score of the online examination will be taken as final result and Grade will be assigned as per the following scheme: Grade A – 80-100, Grade B – 65-79, Grade C – 50-64, Reattempt – Below 50

• Next Batch: Each IALM course starts immediately after payment. Students can register online for the course any time. Upon payment of fees and registration, the present Course will start immediately.