Legal Question in Banking Law in India
Iam a banker. Pls help me getting out of this problem. A loan proposal for residential flat is under consideration at our end. If we do the mortgage of the whole area in lieu of individual mortgage with the intending party ,then what may be the consequences in legal point of view?
Asked on 3/15/16, 11:08 pm
1 Answer from Attorneys
Fca Prashant Chavan
Expert Edge LLP
17.03.2016
Dear Sir / Madam,
In my opinion, you should collect all the necessary documentation to confirm the ownership and title of the appurtenant area surrounding the building where the flat is situated, but confine yourself to only mortgaging the flat under consideration with the intending party, and not the whole area.
Regards,
Answered on 3/16/16, 12:20 am
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