23. Security of immovable property. - Where the security offered consists of immovable property, the person giving such security shall file a security bond duly registered hypothecating such property in the name of the Registrar General and his successors-in-office together with-(1) a specification of the title of the mortgagor, (2) an affidavit of the person executing the security bond affirming that the property secured is of sufficient value to cover the amount of security required, and (3) the necessary certificate from the Registration office concerned indicating that the property is free from encumbrances or, in case the property is encumbered, the particulars and extent of such encumbrances. The Court may before accepting such security direct that it be verified by the District Judge of the district within which such immovable property is situated.
