Mortgage flat can be sold? when?

jitendra dave (Querist) 21 November 2012 This query is : Resolved
If seller is having bank loan (mortgage)on the flat.and he want to sell this flat to person(buyer)who also want bank loan.please tell me the legal formalities involved.jitendra

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Devajyoti Barman (Expert) 21 November 2012
Yes, it can be sold.
The new buyer then will have to repay the bank loan.

ajay sethi (Expert) 21 November 2012
appproach bank . loan can be transferred in name of buyer . also obtain NOC from society .

R.K Nanda (Expert) 21 November 2012
no more to add.

Raj Kumar Makkad (Expert) 21 November 2012
Such property cannot be sold without the acceptance of the bank.

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