Monday, 7 April 2014

Pledge, Hypothecation, Mortgage





Pledge
Hypothecation
Mortgage
Type of Security
Movable
Movable
Immovable
Possession of Security
Remains with the lender.
Remains with the Borrower.
Remains with the Borrower.
Examples
Gold Loan, Advance against NSC’s(National Savings Certificate), Advance against goods.
Vehicle Loans, Advance against stock.
Housing Loan.

Reactions:

13 comments:

  1. Thank you for the information regarding with this useful topic .It is helping me a lot and keep writing such a worthy blog.

    ReplyDelete
  2. I have hypothication on my two wheeler for more than 18 years. The loan was repaid in full almost 15 years ago. It went unnoticed and the hypothication was not removed. Now when I noticed it i went to the borrower. They agree about my full repayment of the loan. When I asked them for NOC & Form 35, they promptly gave me only one copy. I went to RTO Office to submit these documents, they told me to bring Form 35 in Duplicate. Now the borrower is arguing with me that they give only one copy of Form 7. How can I deal with this situation ? Does Bank get any benefit by delaying the termination of hypothication agreement ? The Bank must be having many such customers who have not removed hypothication charge. In that case the bank might be showing these hypothicated assets on their balance sheet, even though the loan is fully paid. Does that make their balance sheet bit stronger ?

    ReplyDelete
  3. I have hypothication on my two wheeler for more than 18 years. The loan was repaid in full almost 15 years ago. It went unnoticed and the hypothication was not removed. Now when I noticed it i went to the borrower. They agree about my full repayment of the loan. When I asked them for NOC & Form 35, they promptly gave me only one copy. I went to RTO Office to submit these documents, they told me to bring Form 35 in Duplicate. Now the borrower is arguing with me that they give only one copy of Form 7. How can I deal with this situation ? Does Bank get any benefit by delaying the termination of hypothication agreement ? The Bank must be having many such customers who have not removed hypothication charge. In that case the bank might be showing these hypothicated assets on their balance sheet, even though the loan is fully paid. Does that make their balance sheet bit stronger ?

    ReplyDelete
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