Legal Question in Banking Law in India
can a co applicant be a sole owner of a property where as the main applicant is not having his name in the purchased property by loan from bank.
what is the rights of the first applicant in this case?
can the first applicant claim for the property?
Asked on 8/15/15, 3:26 pm
1 Answer from Attorneys
Fca Prashant Chavan
Expert Edge LLP
16.08.2015
Dear Sir /. Madam,
No, a co-applicant is the joint owner of the property. For a co-owned joint property, all the co-owners will have to consent if the property is being mortgaged to the Bank as security for business loan.
Regards,
Answered on 8/16/15, 3:34 am
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