Legal Question in Civil Rights Law in India

sir, my mother own a property and we build a house.after that mother gave the property to my father(dhananischayam in malayalam)but he didnt got pattayam.that is only the registration was done.the problem was that he was missing for last 3 years.my mother cancelled the registration during my marriage,and given to me(dhananishchayam).now the problem is i am indending to take a bank loan from co oprative bank pledging this proprty.is there any problem regarding the cncellaton of the regisstration.now i am remitting the tax and got pattayam from the village.is there any legal problem/?


Asked on 8/09/13, 5:12 am

1 Answer from Attorneys
Fca Prashant Chavan Expert Edge LLP

09.08.2013

Dear Sir / Madam,

Dhana nischayam literally means commitment of wealth by one person to another by way of a Gift. Since your mother is the owner of the property, she is entitled to gift the property to you (as the son / daughter) and register the transaction, which has been done. Accordingly, the District Registrar / Tehsildar has also rightly recorded the transfer of the land in your name with the property tax receipts in your name. I do not envisage any problem in your taking a bank loan by pledging the property.

Regards,

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Answered on 8/09/13, 10:06 am


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