Legal Question in Banking Law in India

My father got his ancesteral property by a partition deed. He has 2 sons (including me). My father has gifted half of the same property to my brother on which both my father and my brother have taken a join mortgage loan based on only the gift deed and also given the entire house to another bank as a security for another loan.Now they have defaulted on the mortgage loan and we have recieved a notice of securitization act. Can the bank seize my house as i am also a legal heir of the property. it is an undivided property and the gift deed is only for half of that.(No demarcated wall to wall)It is an independent 40 x 40 house.
A legal adviser told us that my father cannot gift an undivided ancesteral property. Is that true in hindu law?

Asked on 5/18/11, 9:44 am

2 Answers from Attorneys

Sanjay Kalra Sanjay Kalra & Associates

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Your father can do whatever he wishes to do with his property. He is the owner of the property and can gift or will the same to any one. You get the share in the property if your father dies intestate and not otherwise. As the property becomes self acquired for your father.

Answered on 5/18/11, 4:14 pm

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