Mortgage

When a property is used as a collateral for loan, that loan is called mortgage. In such a case, an arrangement is made where the borrower receives cash and agrees to makes payments over a set period of time. The agreement ends when the entire amount is paid back to the lender.

A mortgage deed consists of all the information involving, property which is to be kept as security , the time period of the loan, etc.

The mortgage matters are governed under the Transfer of Property Act, 1882.