Regarding loan on property

shyam lal sharma (Querist) 14 November 2013 This query is : Resolved
Me and my brother is having an ancestral property measuring 20X50 Feet (home with ground floor and 1st floor) acquired through registered partitioned deed, separate khatha (Mutation), separate, tax, electricity bill etc., where my brother residing at and having title over ground floor of the property and I am having title over 1st floor and now brother want take loan from ICICI bank and now he is pressuring me to executed mortgage deed along with his family member, now I don`t need money, can bank provide loan on my brothers partition of the property and without executing any deed by me, what will be my responsibility towards bank loan, because I am having title over the 1st floor of the house. And brother want me to sing in order to get extra mortgaged money and he is telling that he make an affidavit stating that he only took entire mortgaged money and he will repay the loan at his own, is this affidavit stands valid.

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manoj joshi (Expert) 14 November 2013
YES THIS AFFIDAVIT IS VALID BUT ALL YOUR PROPERTY WILL BE MORTIGUAGE TO BANK U CANT SELL YOUR PORTION UNTELL LOAN COMPLETE

Rajendra K Goyal (Expert) 14 November 2013
Well advised by the expert, also the Bank can sell your property under SARFAESI Act or otherwise in case of default in repayment.