Legal Question in Banking Law in India
Can karta of huf can mortgage property to secure loan. Of self or third party
Asked on 10/16/12, 7:44 am
2 Answers from Attorneys
Fca Prashant Chavan
Expert Edge LLP
16.10.2012
Dear Sir / Madam,
Acts of a Karta are deemed to be taken in the best interests of all the other members of the HUF. The Karta has the right to mortgage the HUF property to secure a loan, if the funds realized are going to be used for the well being and welfare of all the members of the HUF. A Karta has no third party rights.
Regards,
Fca Prashant Chavan
Mumbai
(you can also mail me for any further on-line advice at [email protected])
Answered on 10/16/12, 8:05 am
RAJIV GUPTA
(Cell: +91 9811284735) [email protected]
karta cannot mortgage his property for himself or for third party. read more on property laws on my website www.karvai.in
Answered on 10/16/12, 8:26 am
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