CAN I LET OUT MY FLAT FOR RENT , WHICH IS STILL UNDER MORTGAGE TO BANK?
I have take flat on home loan (Loan from LIC HFL). Can let out this flat for rent to someone?
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ujjwal bag (AM) 03 April 2023
CAN I LET OUT MY FLAT FOR RENT , WHICH IS STILL UNDER MORTGAGE TO BANK?
I have take flat on home loan (Loan from LIC HFL). Can let out this flat for rent to someone?
Read more at: https://www.lawyersclubindia.com/forum/create_message.asp
Real Soul.... (LEGAL) 03 April 2023
You must inform bank about letting out the property .
P. Venu (Advocate) 03 April 2023
In my understanding, you can.
Advocate Bhartesh goyal (advocate) 03 April 2023
Yes, If mortgagor have lawful possession of mortgage property can let out property on rent.
Sidhhi 03 April 2023
T. Kalaiselvan, Advocate (Advocate) 03 April 2023
There is no infirmity in letting out the property mortgaged as collateral security for the purpose of home loan, on rent, you can proceed.
Rama chary Rachakonda (Secunderabad/Telangana state Highcourt practice watsapp no.9989324294 ) 03 April 2023
Mortgagor can give rent his property.In simple mortgage, the possession of the property and its title documents remain with the mortgagor only.
Dr J C Vashista (Advocate) 04 April 2023
I endorse the opinion and advise of experts herein above, the property can be rented out.
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