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.

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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.

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Answered on 7/19/08, 1:19 am


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