Mortgage by deposit of Title Deeds - Memorandum merely recording handing over of Title Deeds as a Security for Loan amount does not require registration.

Citation

2024 (2) СТС 307

IN THE HIGH COURT OF MADRAS

P.B. Balaji, J.

S.A. No.483 of 2017

31.1.2024

S. Thilagam.             ......Appellant

Vs.

Palani.                    ..... Respondent

Registration Act, 1908 (16 of 1908), Section 17(1)(c) Transfer of Property Act, 1882 (4 of 1882), Section 58(c) - Mortgage by deposit of Title Deeds Memorandum recording Loan transaction and handing over of Title Deed Registration - "Compulsory" or "Optional" Defendant borrowed money by executing Promissory Note and handed over original Title Deeds Memorandum recorded handing over of Title Deeds and lending of money Memorandum recorded by parties does not create any right, liability or extinguishment of such rights and liability Acknowledgment of deposit of Title Deeds for Loan transaction does not require registration Memorandum merely recording handing over of Title Deeds as a Security for Loan amount does not require registration.