Noc by coop society for a mortgaged flat


07 June 2019

A member who owns a flat in CHS is looking for Solvency Certificate. There is a bank Loan outstanding on his flat. He has asked for NoC from the society wherein he doesn’t want the society to mention about the mortgage/loan in the NoC.
Can Society issue NoC without mention of mortgage?
Is the society obliged to mention the bank loan/mortgage if it issues any type of NoC?
Can society refuse to issue NoC if the member insists, ‘not to mention of mortgage’?
Experts, kindly revert and oblige …… Regards

Dr J C Vashista (Expert)
08 June 2019

Society can issue "no dues certificate" but can not provide a "no objection certificate" as sought by you.
The society has no concern with mortgage, solvency or any encumbrance on the flat.
Consult a local prudent lawyer with relevant records for better appreciation, analyses, guidance and proceeding.

Isaac Gabriel (Expert)
09 June 2019

No bar.Lease cum sale agreement issued by the society is sufficient.

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