NATIONAL MORTGAGE, FINANCING AND GUARANTEE SCHEME ACT - 1976 (SMCD 23)

    Section - 9 - Security for Loan.

    Where a loan is granted under the Scheme security for the loan shall be provided as follows:-

    (a) the property in respect of which the loan is granted shall be mortgaged to the financial institution;

    (b) the title deeds and mortgage deeds relating to the property, duly stamped and registered shall be deposited with the financial institution.