Mortgage Deed: RBE No.162/2000 – Lease Hold Property

No.F(E) Spl. 2000/ADV. 3/4, dated 11.09.2000

Sub: Form of Mortgage Deed to be executed when the property is “lease hold”.

It has come to notice that on procuring flats through IRWO etc., loanees could not execute mortgage deed within the stipulated period of 3 months of the drawal of House Building Advance due to non-supply of land lease papers by IRW0.

Attention in this connection is drawn to Para 2 of Ministry of Works and Housing’s O.M. No.1/17011/9/71-ED (H)-III, dated 05.07.1971 circulated through Board’s letter No.F(E) III/71/ADV 3/3 (ii), dated 10.11.1971, which provides that Form No.4‘B’ should be brought into use, for executing mortgage deed in the case of purchase of ready built house/ flat on the lease hold land, the absolute right of which is not vested in the purchaser.

In view of the clear provision already existing, as indicated above, the mortgage deed must be executed within the stipulated period.

Download Railway Board Circular RBE No.162/2000

Forward reference ⇒ RBE No.