What is MR and ME in encumbrance certificate?

I don't think it is possible for everyone to know all of the legal terms related to real estate transactions. When I was getting an encumbrance certificate, I was not aware of MR ME meaning in Encumbrance Certificate. But thankfully, I had a lawyer friend who helped me understand it.

He told me that MR and ME are abbreviations for mortgages and mortgaging in Encumbrance Certificate.

ME MR in Encumbrance Certificate

MR or mortgagor, is a person who is the current owner of a property. He has mortgaged that property to the lender, or the ME.

ME or the mortgagee, is the lender who has lent a certain amount to MR, or the Mortgagor. He has a security interest in the property which has been mortgaged.

An Encumbrance Certificate is a legal document that is used to portray the current status of a particular property title. It represents a list of all the liens, mortgages, and other kinds of encumbrances that are linked to a particular property. So if you are considering buying a property, you should have knowledge of all of this information about the property.

The two most important parties listed on the income certificate are MR and ME. As I already told you, MR is the Mortgagor who is required to repay the mortgage to ME or the Mortgagee. The Mortgagee is the person who has the right to take possession of the property that has been mortgaged in case the mortgage is not repaid by the MR.

I hope now you understand what MR and ME means in registration.

Purchasing a property is one of the biggest decisions you will take in life. Buying a property takes a lot of effort and money. Dealing with property papers is another important agenda! Whether you are a first-time buyer or you have purchased properties before it is important to check the property papers all the time. Checking property requires a lot of hard work as you will come across many terms you have never heard of. MR and ME are the two types of terms I have seen in encumbrance papers while purchasing property but I did not know the meaning. So, let me tell you what is MR and ME in encumbrance certificate.

What is ME and MR in an encumbrance certificate?

An encumbrance certificate is a certificate which records the history of a property. It is the evidence that the property is free of monetary or legal liabilities. An encumbrance certificate records the financial transactions of the property. 

Did you know if you need a home loan you need to submit the Encumbrance Certificate? You can only get back your encumbrance certificate after the repayment of the home loan. You can get your new encumbrance certificate while purchasing the property by visiting the sub-registrar’s office. 

Now, let me share the meaning of MR and ME in encumbrance certificate. Since I am sharing the abbreviation for MR and ME, I will share the full form of other important terms used in encumbrance certificates. The important terms are:

• EP

  - Execution Proceedings

• EX

  - Executant

• CL

  - Claimant

• RR

  - Releasor [Previous Owner or Financier]

• RE

  - Release [Present Owner or Financier]

• DDP

  - Detailed Development Plan

• DR

  - Donor

• DE

  - Donee

• ME

  - Mortgagee [Financier]

• MR

  - Mortgagor [Present Owner or Borrower]

• PL

  - Principal

• AY

  - Attorney ( Agent of Principal)

• DTCP

  - Department of Town and Country Planning

• VUDA

  - Visakhapatnam Urban Development Authority

• LR

  - Lessor

• LE

  - Leasee

• FP

  - First Party

• SP

  - Second Party

• E

  - Execution Date (E)

• R

  - Registration Date (R)

• P

  - Presentation Date (P)

So, MR is Mortgagor [Present Owner or Borrower] and ME is Mortgagee [Financier].

I hope you understand what is MR and ME in encumbrance certificate.

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