Velugoti Nagula Meeravali 15 January 2021

GPA DOCUMENT

Can SALE CUM GPA AGREEMENT holder is having right to mortgage the house site?

Quick Summary

A GPA document, even when combined with a sale agreement, generally does not confer ownership rights and therefore cannot be used to legally mortgage a property. Banks typically require a registered conveyance document for mortgages, though a registered GPA might be considered for an equitable mortgage depending on its specific terms and conditions.

2 Replies

Rahul Mehalwal 15 January 2021

can't comment unless the terms and conditions are known. If it is a registered GPA banks would take it as an equitable mortgage otherwise they'll ask for a registered document for conveyance.