Legal Question in Real Estate Law in India
Sell of Mortgage property
I have few questions:
1)What are the steps for selling a mortgaged property?
2) Can I transfer the property to my family member as gift deed and can he get loan against the property I gifted him?
3) Can I sell the mortaged property to my family member? Can he take a home loan and what would be the process?
Asked on 7/18/08, 2:34 pm
2 Answers from Attorneys
Manish Dhingra
Legal
Re: Sell of Mortgage property
The answers to all of your queries depends upon your agreement with the mortgagor. You may violate the terms of the agreement if you transfer the property.
Answered on 7/18/08, 3:42 pm
Shrichand Nahar
S.V.Nahar, Advocate
Re: Sell of Mortgage property
You think of anything else only after removal or redemption of mortgage.
Answered on 7/19/08, 1:19 am
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