POWER OF ATTORNEY

Querist : Anonymous (Querist) 21 February 2011 This query is : Resolved
DEAR SIR, I WOULD LIKE TO KNOW WHETHER POWER OF ATTORNEY ALONGWITH REGD.WILL , CAN BE MORTGAGED WITH BANK FOR HOUSING LOAN PURPOSE.

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Devajyoti Barman (Expert) 21 February 2011
The Bank is more equipped to reply this query since it is the absolute prerogative of the Bank to grant you loan whether you fulfill its criteria or not.

Parveen Kr. Aggarwal (Expert) 22 February 2011
A bank secures its loan amount by mortgaging the immovable property for which housing loan is granted by the bank. For the purpose of creating security, title documents of the property are retained by the bank. A Power of Attorney is never a document of title. A will also becomes enforceable upon the death of its executant. From your query, it is not clear whether the executant of the will is dead or alive.