Mortgage under trust
Rushiraj Vartak
(Querist) 26 June 2012
This query is : Resolved
Sir,
Please note that I am not a Law Expert. I have a CLient which is a Tryst and who requires Loan .Note that my query is
If there are 2 Trusts say A and B .. A is the Borrower who would take a Loan , but the
property to be mortgaged is owned by Trust B
.Please confirm if the same can be done under Indian Trust Act 1882..
Please do revert.
Thanks
Rushiraj Vartak
9869778084
K.K.Ganguly
(Expert) 28 June 2012
Yes. the Trust A can take loan from any Bank by creating security interest on the property of Trust B in which case the Trust B has to act as a guarantor and sign a guarantee agreement duly mortgaging his said property with the lending Bank.
K.K.Ganguly
(Expert) 28 June 2012
Yes. the Trust A can take loan from any Bank by creating security interest on the property of Trust B in which case the Trust B has to act as a guarantor and sign a guarantee agreement duly mortgaging his said property with the lending Bank.
