ಹೆಚ್ಚಿನ ಕ್ರೆಡಿಟ್ ಸ್ಕೋರ್ ಲೋನ್ ಅನುಮೋದನೆಯ ಅವಕಾಶಗಳನ್ನು ಹೆಚ್ಚಿಸುತ್ತದೆ. ಇಂದೇ ನಿಮ್ಮ CIBIL ಸ್ಕೋರ್ ಪರಿಶೀಲಿಸಿ ಮತ್ತು ಕ್ರೆಡಿಟ್-ಅರ್ಹತೆ ಹೇಗೆ ಎಂಬುದರ ಬಗ್ಗೆ ಉಚಿತ ಒಳನೋಟಗಳನ್ನು ಪಡೆಯಿರಿ.
ಹೆಚ್ಚಿನ ಕ್ರೆಡಿಟ್ ಸ್ಕೋರ್ ಲೋನ್ ಅನುಮೋದನೆಯ ಅವಕಾಶಗಳನ್ನು ಹೆಚ್ಚಿಸುತ್ತದೆ. ಇಂದೇ ನಿಮ್ಮ CIBIL ಸ್ಕೋರ್ ಪರಿಶೀಲಿಸಿ ಮತ್ತು ಕ್ರೆಡಿಟ್-ಅರ್ಹತೆ ಹೇಗೆ ಎಂಬುದರ ಬಗ್ಗೆ ಉಚಿತ ಒಳನೋಟಗಳನ್ನು ಪಡೆಯಿರಿ.
ಪರ್ಸನಲ್ ಫೈನಾನ್ಸ್ ಆ್ಯಪ್, ಸಮಗ್ರ ಹಣಕಾಸಿನ ಅಗತ್ಯಗಳಿಗಾಗಿ ನಿಮ್ಮ ಒನ್-ಸ್ಟಾಪ್ ಶಾಪ್ - SIP, ಮ್ಯೂಚುಯಲ್ ಫಂಡ್ಗಳು, ಲೋನ್ಗಳು, ಇನ್ಶೂರೆನ್ಸ್, ಕ್ರೆಡಿಟ್ ಕಾರ್ಡ್ಗಳು ಮತ್ತು ಇನ್ನೂ ಅನೇಕ
As a homebuyer, you’re likely familiar with the term ‘mortgage’ in association with their housing loan. This simply means that the property documents stay with your lender until the loan is fully repaid. But, did you know that there are generally two kinds of mortgage – equitable mortgage and registered mortgage?
ಈ ಪದಗಳು ಎಂದರೇನು ಎಂದು ಖಚಿತವಾಗಿಲ್ಲವೇ? ಈ ಮಾರ್ಗದರ್ಶಿಯು ಹೌಸಿಂಗ್ ಲೋನ್ಗಳ ಮೇಲೆ ಇಕ್ವಿಟೆಬಲ್ ವರ್ಸಸ್ ನೋಂದಾಯಿತ ಅಡಮಾನದ ಬಗ್ಗೆ ಇನ್ನಷ್ಟು ತಿಳಿದುಕೊಳ್ಳಲು ನಿಮಗೆ ಸಹಾಯ ಮಾಡುತ್ತದೆ.
What is Equitable Mortgage?
ಸರಳ ಅಡಮಾನ ಎಂದು ಕೂಡ ಕರೆಯಲ್ಪಡುವ, ಈ ವ್ಯವಸ್ಥೆಯು ಅತ್ಯಂತ ಸಾಮಾನ್ಯವಾಗಿದೆ. ಈ ವ್ಯವಸ್ಥೆಯ ಅಡಿಯಲ್ಲಿ, ನಿಮ್ಮ ಸಾಲದಾತರು ನಿಮಗೆ 15 ರಿಂದ 20 ವರ್ಷಗಳ ದೀರ್ಘ ಅವಧಿಗೆ ಅಸಲನ್ನು ಲೋನ್ ನೀಡುತ್ತಾರೆ, ಇದಕ್ಕೆ ಪ್ರತಿಯಾಗಿ ಕೆಲವು ಭದ್ರತೆಯನ್ನು ಬಯಸುತ್ತಾರೆ. ಆದ್ದರಿಂದ, ನೀವು ಖರೀದಿಸುವ ಮನೆ ಭದ್ರತೆಯಾಗುತ್ತದೆ.
You will have to hand over original title deeds and other ownership documents to your lender until the loan is repaid in full. This means that in case you default on your EMIs, the lender will have the authority to take over your property.
In an equitable mortgage, the borrower secures a loan by simply handing over the original title deeds of the property to the lender, without executing a formal mortgage deed or registering it. This type of mortgage is also known as a mortgage by deposit of title deeds and is legally valid in notified towns and cities under the Transfer of Property Act.
The borrower may optionally sign a memorandum acknowledging the deposit of title deeds, and minimal stamp duty may be applicable depending on state laws. Since the mortgage is not registered, it does not become a part of public records, maintaining privacy for the borrower.
The loan is disbursed after the lender verifies the documents and is satisfied with the asset’s value.
What is a Registered Mortgage?
This is a more complex arrangement where the borrower willingly transfers full ownership rights of the property to the home loan lender in case of a default in loan repayment. Meaning, the lender will have the authority to dispose of your property in any manner they see fit, should you fail to repay the loan in full.
Under this arrangement, the lender has far more rights than a simple mortgage.
How Does Registered Mortgage Work?
A registered mortgage involves a formal legal agreement between the borrower and the lender, which is documented and registered with the local sub-registrar’s office. The process begins with the drafting of a mortgage deed that clearly outlines the terms and conditions of the loan, including repayment tenure, interest rates, and rights of the lender in case of default.
The borrower pays the applicable stamp duty and registration charges, which vary depending on the state’s regulations and the loan amount. Once both parties sign the deed, it is officially registered, creating a public record of the transaction. Only after this step is the loan amount disbursed to the borrower.
Difference Between Equitable Mortgage and Registered Mortgage
To give you a clearer picture, let’s compare equitable mortgage vs registered mortgage-
Point of Distinction
ಇಕ್ವಿಟೆಬಲ್ ಅಡಮಾನ
Registered Mortgage
Costs Involved
Since equitable mortgages are not registered and do not involve any legal action, all you need to do is buy a stamp paper and write down a Memorandum of Deposit (MoD) on it. So, the costs involved are lower than a registered agreement.
Under this arrangement, you are required to visit the sub-registrar’s office. The costs involved in registration may go as high as 5% of the total loan value.
Lender’s Rights
When you repay your loan in full, the lender will return your property documents without a formal procedure to record the submission. In case of a default, the lender may settle the loan by auctioning off the house. If the sale proceeds exceed the original market value, the lender will pay the excess to you.
Since the sub-registrar is aware of this agreement, the lender will enjoy rights over other parties if the property comes under dispute, and in case of a default, the ownership will transfer to the lender to do as they wish.
Borrower’s Rights
Though not registered with the sub-registrar, in case of disputes, you can approach the Central Registry of Securitisation Asset Reconstruction and Security Interest (CERSAI).
Because the agreement is known to the sub-registrar, you need not fear even in case of disputes regarding property ownership.
ಸ್ಟ್ಯಾಂಪ್ ಡ್ಯೂಟಿ
You need to pay a stamp duty of 0.1% to 0.2% on the home value
The stamp duty is 5% of the home value
Advantages & Disadvantages of Equitable Mortgage
Here are the advantages and disadvantages of equitable mortgage-
ಪ್ರಯೋಜನಗಳು
ಅನಾನುಕೂಲಗಳು
Lender and borrower details are private since it’s not a public record
Limited legal protection for parties since the identity is private
Lower administrative costs
Lack of transparency
No formalities of registration or legal documentation
Higher risk due to no legal backing
Higher flexibility
Establishing the terms can be challenging
Advantages & Disadvantages of Registered Mortgage
Let’s explore the pros and cons of registered mortgage-
ಪ್ರಯೋಜನಗಳು
ಅನಾನುಕೂಲಗಳು
Strong legal protection for both lender and borrower
Default may lead to legal consequences for the borrower
Allows property sale and transfer once the mortgage is cleared
Lack of privacy for lender and borrower
Borrowers may be able to fetch lower interest rates
Higher upfront cost due to registration and legal fees
Higher transparency since the mortgage details are publicly available
More paperwork and formalities involved than equitable mortgage
Follows a standardized legal process
Borrowers may have less flexibility in negotiating terms
Which is Better: Equitable or Registered Mortgage for Home Loans in India?
An equitable mortgage is often preferred for faster disbursal and lower upfront expenses, as it involves depositing property title deeds without formal registration. This makes it suitable for borrowers seeking quick funding with minimal charges.
A registered mortgage, on the other hand, offers stronger legal backing since the charge is officially recorded with the sub-registrar. While it may involve higher stamp duty and registration costs, it provides greater clarity and security for both lender and borrower.
Understanding the difference between mortgage and home loan is also important here. When evaluating a mortgage loan vs home loan, or even home equity loan vs mortgage, borrowers should assess long-term risk, ease of documentation, and total costs before deciding which mortgage type aligns best with their home loan needs.
Legal Implications & Documentation for Equitable Mortgage
Equitable mortgage is governed by the Transfer of Property Act, 1882
Title deed of the property is an important document to be deposited with the lender
Legal Implications & Documentation for Registered Mortgage
Registered mortgage also comes under Transfer of Property Act, 1882
A mortgage deed needs to be registered with a government authority
Key Factors to Look for When Choosing Between Equitable & Registered Mortgage
Before choosing between a registered and equitable mortgage, consider these key factors to make an informed decision-
ಇಕ್ವಿಟೆಬಲ್ ಅಡಮಾನ
Greater privacy: Since equitable mortgages aren’t typically registered with government authorities, they offer more privacy to both the borrower and the lender.
Flexible terms: These mortgages are based on mutual understanding, making the agreement more adaptable to individual needs and conditions.
Higher risk: Due to the lack of formal registration, lenders have limited legal recourse in the event of default, and borrowers may face less legal protection.
Registered Mortgage
Legal safeguards: Registered mortgages offer stronger legal backing, as the agreement is recorded with the sub-registrar and governed by clear legal provisions.
Full transparency: Registration makes the mortgage a public document, which increases transparency and ensures accountability from both parties.
Lower risk profile: Registered mortgages are ideal for high-value or commercial loans, where legal enforceability and security are essential for both lenders and borrowers.
When to Consider Equitable Mortgage Over Registered Mortgage
An equitable mortgage may be suitable when speed, minimal documentation, and cost efficiency are priorities. It is often preferred if you want quicker loan processing without paying stamp duty or registration charges upfront.
Borrowers who clearly understand the difference between mortgage and home loan may opt for this route when legal simplicity matters. When comparing home equity loan vs mortgage, an equitable mortgage works well for short- to medium-term borrowing needs. It is also helpful when refinancing or availing additional funding against property.
Understanding the difference between mortgage and home loan and evaluating home equity loan vs mortgage options can help borrowers choose a structure aligned with their financial goals.
ಮುಕ್ತಾಯ
Choosing between an equitable and registered mortgage depends on your financial goals, risk appetite, and need for legal protection. Understanding the key differences helps you make a more informed and secure borrowing decision.
As for a housing loan, apply with India’s leading lending institution, Tata Capital. We offer home loan interest rates, starting at 6.70%, along with flexible repayment options and long tenure. Know more about documentation and eligibility for home loan, Use our online home loan EMI calculator.
ಇಕ್ವಿಟೆಬಲ್ ಅಡಮಾನ ಮತ್ತು ರಿಜಿಸ್ಟರ್ಡ್ ಅಡಮಾನದ ನಡುವಿನ ಪ್ರಮುಖ ವ್ಯತ್ಯಾಸವೇನು?
ಇಕ್ವಿಟೆಬಲ್ ಅಡಮಾನ ಮತ್ತು ರಿಜಿಸ್ಟರ್ಡ್ ಅಡಮಾನದ ನಡುವಿನ ಪ್ರಮುಖ ವ್ಯತ್ಯಾಸವು ಡಾಕ್ಯುಮೆಂಟೇಶನ್ ಮತ್ತು ನೋಂದಣಿಯಲ್ಲಿರುತ್ತದೆ. ಪ್ರಾಪರ್ಟಿ ಶೀರ್ಷಿಕೆ ಪತ್ರಗಳನ್ನು ಡೆಪಾಸಿಟ್ ಮಾಡುವ ಮೂಲಕ ಇಕ್ವಿಟೆಬಲ್ ಅಡಮಾನವನ್ನು ರಚಿಸಲಾಗುತ್ತದೆ, ಆದರೆ ರಿಜಿಸ್ಟರ್ಡ್ ಅಡಮಾನಕ್ಕೆ ಅಧಿಕಾರಿಗಳೊಂದಿಗೆ ಔಪಚಾರಿಕ ನೋಂದಣಿಯ ಅಗತ್ಯವಿದೆ. ಅಡಮಾನ ಮತ್ತು ಹೋಮ್ ಲೋನ್ ನಡುವಿನ ವ್ಯತ್ಯಾಸವನ್ನು ಅರ್ಥಮಾಡಿಕೊಳ್ಳುವುದರಿಂದ ಸಾಲಗಾರರಿಗೆ ಸರಿಯಾದ ಆಯ್ಕೆಯನ್ನು ಆಯ್ಕೆ ಮಾಡಲು ಸಹಾಯ ಮಾಡುತ್ತದೆ.
ಸಮನಾದ ಅಡಮಾನವನ್ನು ಸರಳ ಅಡಮಾನ ಎಂದು ಕೂಡ ಕರೆಯಲಾಗುತ್ತದೆ?
ಇಲ್ಲ, ಇಕ್ವಿಟೆಬಲ್ ಅಡಮಾನವು ಸರಳ ಅಡಮಾನದಂತೆಯೇ ಇರುವುದಿಲ್ಲ. ಸಾಲದಾತರೊಂದಿಗೆ ಪ್ರಾಪರ್ಟಿ ಶೀರ್ಷಿಕೆ ಪತ್ರಗಳನ್ನು ಡೆಪಾಸಿಟ್ ಮಾಡುವ ಮೂಲಕ ಇಕ್ವಿಟೆಬಲ್ ಅಡಮಾನವನ್ನು ರಚಿಸಲಾಗುತ್ತದೆ, ಆದರೆ ಸರಳ ಅಡಮಾನಕ್ಕೆ ಔಪಚಾರಿಕ ನೋಂದಣಿ ಅಗತ್ಯವಿದೆ. Understanding this distinction helps when comparing home equity loan vs mortgage options.
Which mortgage option has lower stamp duty in India?
In India, an equitable mortgage generally involves lower stamp duty compared to a registered mortgage, as it does not require formal property registration. Understanding the difference between mortgage and home loan helps borrowers evaluate cost implications, legal requirements, and overall affordability before choosing the suitable mortgage option.
Can I switch my property from an equitable to a registered mortgage later?
Yes, it is generally possible to switch from an equitable mortgage to a registered mortgage later, subject to the lender’s policies and applicable legal formalities. Understanding home equity loan vs mortgage helps borrowers plan such transitions effectively.
Which mortgage is faster to process for home loans in India?
In India, an equitable mortgage is generally faster to process than a registered mortgage. Since it involves depositing property title deeds without formal registration, documentation. Further, legal procedures are simpler, enabling quicker loan approval and disbursal compared to registered mortgages.
Are there risks if I opt for an equitable mortgage over a registered mortgage?
Yes, an equitable mortgage carries certain risks. Since it is not formally registered, it may offer weaker legal protection in case of disputes. Lenders may also impose stricter terms, and borrowers should clearly understand enforcement rights before opting for an equitable mortgage.
03 ಜುಲೈ 2026
8 ನಿಮಿಷಗಳ ಓದು
ಹಿಂದಿನ ಪೋಸ್ಟ್
