Legal Question in Banking Law in

IF a father gives a property to one of the three son by the way of family settlement deed and the son pays the stamp duty @ 3.5% to the revenue department. will the bank equitable mortgage the property. the property is not the ansestral it was aquired by the way of gift a long ago. will the other legal heir can claim or go to the court after such deed.


Asked on 9/25/10, 4:32 am

1 Answer from Attorneys
Vishwa Arya Arya & Co.

if father has given the property to one of three sons already, then bank can take the mortgage only from the son and not the father as father is no more the owner.

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Answered on 9/25/10, 7:18 am


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