Can i mortgage my share in my father's share inherited from grandfather's property

Querist : Anonymous (Querist) 12 December 2011 This query is : Resolved
Can I mortgage my share in my father's share inherited from grandfather's property?
My father is guardian of whole family and family business. I have my separate business trying to establish it and for it I need to take some Cash-Credit loan for this I need to mortgage some land.
My father got his share after division from my grandfather's property beside his self earned property he is in possession of all property as guardian but do not want to divide the property as till he is alive.
I respect this but to establish my business I need money as I am a mature adult and want to do business my own way.
I do not want to take any share from my father's earned property but want to mortgage my 1/3 share to bank for C/C purpose (We are two child of Father). Can I do this without property division?

Follow Query

Report Abuse

adv. rajeev ( rajoo ) (Expert) 13 December 2011
Unlesss and until there is partition by metes and bounds you cannot.Your share is not yet determined.

Advocate. Arunagiri (Expert) 13 December 2011
Yes you can mortgage your share. Even if it is undivided you can mortgage it.

prabhakar singh (Expert) 13 December 2011
Yes!Even undivided share can be mortgaged. Advocate Arunagiri has rightly opined.

Advocate. Arunagiri (Expert) 13 December 2011
Thank you Mr.Singh.

DEFENSE ADVOCATE.-firmaction@g (Expert) 13 December 2011
some times Mr Rajoo you are to the point.

Raj Kumar Makkad (Expert) 13 December 2011
Your father can mortgage even by holding his ownership over the property during his life time and there is no harm to have 1/3 share of the demised property to be mortgaged as desired.

Guest (Expert) 14 December 2011
Dear Anonymous,

Are your talking of your own grandfather's property during the life of your property or the property of the grandfather of your father?

Guest (Expert) 14 December 2011
@Experts,

If the querist is talking about his own grandfather's property, I have some doubt, whether he has any right in his grandfather's property till his father is alive, but he proposes to mortgage his presumed share in the said property. Also I doubt if the bank would be ready to recognise him as the shareholder in property during the lifetime of his father?

Previous

Next

You need to be the querist or approved LAWyersclub expert to take part in this query .

Click here to login now