Will of property

Querist : Anonymous (Querist) 08 October 2019 This query is : Resolved
I have house property(flat) which is under home loan and have Xerox of agreement deed with me.while sanctioning loan lender has taken sign of other family member that they can not claim property if something happens to me.

Can I still make will of house property in current condition.Society formation of such new building is yet to happen.

Please advise.

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Sudhir Kumar, Advocate (Expert) 09 October 2019
you have not been able to clear facts.

kindly elaborate what is real trouble.

Hemant Agarwal (Expert) 09 October 2019
1. The Loan Lender CANNOT stake claim to the Property (on your payment default), without obtaining a Civil Court order. Further he cannot legally restrain your legal heirs from staking claim on your property, by following due procedures of law, which could include paying off all the pending dues.

2. You are legally entitled to execute a registered WILL document of your property and will it to anybody you please, without any reference to the Loan Lender.

Keep Smiling .... Hemant Agarwal
VISIT: www.chshelpforum.com

Message likes : 1 times

SHIRISH PAWAR, 7738990900 (Expert) 09 October 2019
Dear Mr. Anonymous,
As per me you can execute will of your property. The property may be transferred after you as per your will if all loan is repaid.
Regards,

P. Venu (Expert) 10 October 2019
The posting appears to be based on misconceptions. Anyhow, the property is yours; you can execute the Will.

krishna mohan (Expert) 11 October 2019
once you are the borrower, bank interest is limited to recovery of principal and interest and not on property. Once you become lawful owner, it is your outlook to write will or dispose off or enjoy as you like. If Bank getting undertaking as reported is true, looks absurd and unlawful and your legal heirs can challenge.

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