Legal Question in Real Estate Law in India
A owner in a co-op housing society has a housing loan from a bank on his flat. Now he wants to sell his flat & the new owner also wants to morgatge the same flat & his lending bank wants NOC from society. Now in this case, Is managing committee has a right to ask a Loan NOC from banker of first owner before issuing NOC to banker of second owner.
Asked on 3/28/12, 11:32 pm
1 Answer from Attorneys
Shrichand Nahar
S.V.Nahar, Advocate
Society will issue NoC only after release of existing mortgage which was created for housing loan.
Answered on 4/01/12, 1:41 am
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