Legal Question in Banking Law in India
can property owned only by a single HUF person be mortgaged in Bank?
Asked on 12/10/16, 5:27 am
1 Answer from Attorneys
Fca Prashant Chavan
Expert Edge LLP
10.12.2016
Dear Sir / Madam,
An Hindu Undivided Family (HUF) comprises of the Karta (Head) and the family members. If the property is in the individual name of the karta, it can be mortgaged to the Bank. If the property is in the name of the HUF, consent of all the members of the HUF may be insisted by the Bank.
Regards,
Answered on 12/10/16, 6:09 am
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