Legal Question in Real Estate Law in India

Hi,

I need to apply for education loan of 20,00,000 INR for studies abroad. So I need to mortgage the property to the bank. But the property is on my sister's name and she is married. so, can she become my gaurantor/borrower for me? if not, can the property be mortgaged if the borower is my mom( by getting no objection certificate etc from my sister) ? Plus, the property is also having housing loan of 12,00,000 INR and the current valuation of the property is around 30,00,000 INR

Please advice.


Asked on 5/10/11, 7:12 am

1 Answer from Attorneys
RAJIV GUPTA (Cell: +91 9811284735) [email protected]

a property already mortgaged to a bank under housing loan cannot be mortgaged again for the education loan.

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Answered on 5/11/11, 12:10 am


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