Mortgage of property

shyam lal (Querist) 08 April 2022 This query is : Resolved
As per unregistered family settlement on a stamp paper witnessed and signed by all share holders in question.
Query is can I mortgage my share in the undivided property to a bank without getting a NOC from the other share holders

Follow Query

Report Abuse

Quick Summary

When dealing with an undivided property based on an unregistered family settlement, obtaining a mortgage from a bank for your share is generally not possible without a No Objection Certificate (NOC) from other shareholders. Banks require a clear title, which often necessitates a registered partition deed. While local lenders might offer options, proceed with caution.

kavksatyanarayana (Expert) 08 April 2022
No. In most states, the registration of partition deed is a compulsorily registerable document and hence check in your state.

krishna mohan (Expert) 11 April 2022
Mortgage effctively as a collateral for loan borrowed in a specified format by the institution from whom you will avail the loan. Without clear title they will not accept. But local money lender may but be careful.

Previous

Next

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

Click here to login now

Ask Query
Unanswered Queries