Mohiuddin Baba 10 February 2020

Creation of Mortgage

One customer has approached us for sanction of the credit facility under the Housing Loan Scheme for the construction of house. From the perusal of the revenue papers, the person is owner by possession ( Abadhi Deh). Can we go for the sanction. can mortgage be created be valid and at last but not least can Can action under safaesi shall be possible in case of default.

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Real Soul.... (LEGAL) 10 February 2020

Yes you can give the loan agsiant mortgage of the the land along with all of the rights (ownership rights ,possesory rights etc); The mortage deed should also mention that if any building residential or commercail is raised on the land shall be llien to financail agency.

Mohiuddin Baba 12 February 2020

The borrower is having the possessory rights over the plot of land and intends to construct the house over it. The said land is Abadhi Deh. is the land sarfaesi compliant

Mohiuddin Baba 12 February 2020

The borrower is having the possessory rights over the plot of land and intends to construct the house over it. The said land is Abadhi Deh. is the land sarfaesi compliant