Legal Question in Banking Law in India
My friend wants to purchase property from a HUF and wants to avail Homeloan from the bank, but because of the HUF Status of the seller, bank is unwilling to homeloan the property. kindly guide to get the homeloan.
Asked on 2/14/14, 2:45 am
1 Answer from Attorneys
Fca Prashant Chavan
Expert Edge LLP
14.02.2014
Dear Sir / Madam,
If the karta of the HUF obtains the written consent and signature of all the members of the HUF to sell the property, the bank sanctioning the loan, obtains a title clearance certificate from their own Legal attorneys and normally accepts it. Should they still refuse, seek another bank.
Regards,
Answered on 2/14/14, 4:42 am
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