Legal Question in Banking Law in

i and my brother availed a Housing loan Four Lakhs from SBI on our joint property and construction. Later he wanted to relinquish his right on that property and got his relinquishment deed registered while the loan is on pending in the Bank. will the registered document valid


Asked on 2/02/11, 1:33 am

2 Answers from Attorneys
RAJIV GUPTA (Cell: +91 9811284735) [email protected]

no, as far as loan is concerned, the document is not valid unless the bank grants an NOC.

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Answered on 2/02/11, 2:46 am
J. Radhakrishnan independent Practice

There is no problem in your brother relinquishing his half share in favour of you even pending the subsistence of the loan. It is valid. But the Bank will have its recourse against your brother as long as the loan is not repaid. Pl. therefore, pay the loan yourself and save your brother from harassment by the Bank

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Answered on 2/02/11, 5:54 am


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