Legal Question in Banking Law in India
We have a land in the name of my grandfather , he is no more. and i have two uncle. May my father can transfer his portion to me as gift deed?? and is it enough to get bank loan ???
Asked on 1/21/14, 9:33 pm
1 Answer from Attorneys
J. Radhakrishnan
independent Practice
Your father can make a registered settlement of his one third undivided share on you. But whether the bank would grant you a loan on the security of that undivided property or not you have to check with a bank. Normally banks won't like to take security of undivided property.
Answered on 1/31/14, 3:42 am
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