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Home / Finance / Home Loan / what is the "Is Borrower Owner Of the Asset - No" means in CERSAI Report ?
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what is the "Is Borrower Owner Of the Asset - No" means in CERSAI Report ?

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0 2022-07-21T18:10:48+00:00
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Hey,

Central Registry of Securitisation Asset Reconstruction and Security Interest of India or CERSAI is an online registry that tracks mortgages taken against a property. The tracking ensures no fraudulent behaviour is happening.

Since, all scheduled commercial banks, Small Finance Banks, Local Area Banks, all cooperative banks, all NBFCs, and All India financial institutions are required to register and update CERSAI.

I will tell you what “Is Borrower Owner Of the Asset – No” means.

When you take a mortgage loan, you are known as the borrower and the bank is known as the lender. Until the loan amount is not completely paid, the borrower(you ) will not be the owner of the asset.

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