Encumbrance Certificate (EC) in Bengaluru
Published
Encumbrance – a mortgage or other claim on property or assets. An encumbrance refers to any charge created on any asset, more often used in the context of real estate.
An Encumbrance Certificate or EC is a certificate of assurance that the property in question is free from any legal or monetary liability such as a mortgage or an uncleared loan.
Encumbrance Certificate is of capital importance that a homebuyer obtains an EC not only to secure his legal title over the property but also to be eligible to obtain loans from most banks and financial institutions for or against the property.