Ram Singh 18 May 2018
I am planning to buy a Ready to move Flat, but the owner taken construction loan from Lic Housing and the land original property is with the LIC housing. Is there any proceudre that LIC housing team will provide the NOC to sale his one Flat and pay the loan amount or Is there any way LIC housing transfer the home loan to me? Please assist. Please also let me know if any trusted property layer in the delhi rohini court.
R.Ramachandran (Advocate) 18 May 2018
Suppose I say, LIC can transfer the housing loan in your name - but LIC is not willing - then what will you do?
Therefore, in these types of matters, where party's willingness is to be first ascertained, the legal issues come later.
Therefore, first talk to the LIC authorities/officials concerned and find out what is their view.
Rahul kandharkar (Freelance Editor Legal Consultant Author.) 18 May 2018
You can take the property on As it is where it is - but u have to take the approval of LIC in writting and proceed further. For further queries please conatct through mail.
Kumar Doab (FIN) 18 May 2018
'Buyer Beware' applies to property deals.
It shall be appropriate to get proper legal opinion from a very able LOCAL senior counsel of unshakable repute and integrity specializing in revenue/property/civil/DRT matters and well versed with LOCAL applicable rules/laws and having successful track record…. and worth his/her salt , before signing or making payment.
This may cost some FEE but can defend long term interest and hard earned monies.
Kumar Doab (FIN) 18 May 2018
LIC may agree to your proposal if you want to buy and tarsnfer laon.
LIC may agree to takeover by another lender.
LIC may not agree.
Discuss with LIC and lender that you have selected.
And get independent opinion from your own counsel..
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