Notarized gpa
navin
(Querist) 05 September 2013
This query is : Resolved
Please can you help with your legal expertise :
I am planning to lend 20 Lakhs to a person for a period of one year with his apartment flat as collateral. He says that he will give a GPA notarized on my name as surety.
1. Is GPA the right way to proceed or is there any other better approach for ensuring my lent money ?
2. Is GPA notarized sufficient gurantee that I can sell the flat towards my principal amount should I not get my principal amount ?
3. Are there any special clauses to be included in GPA ( irrevocable, etc ? ) .
4. In the unfortunate event of death of either party , will the GPA be valid and will my family still claim the collateral for my lent money ?
Thankyou in advance !
Warm Regards
Rajendra K Goyal
(Expert) 05 September 2013
Repeated query:
http://www.lawyersclubindia.com/experts/Registered-sale-agreement-notarizedgpa-notarized-affidavit-420591.asp
ajay sethi
(Expert) 05 September 2013
commercial query . you can afford legal fees
Advocate Sastry
(Expert) 05 September 2013
Dear Navin,
You are asking the same query under different titles and some extra facts... As suggested by Expert Ajay Sethi, you can afford legal fees... Please contact a local Advocate... Good Luck
