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Mohammed Sohrab   06 September 2018

Loan on gift deed

can I get loan on my father's property which he has gifted me


 6 Replies

kavksatyanarayana (subregistrar/supdt.(retired))     06 September 2018

If the property is gifted to you by your father and mutated in the records, then you are eligible to get loan subject to the requirements of the Bank.

1 Like

Adv Deepak Joshi +917017821512 (Advocate)     07 September 2018

If the gift deed is unconditional then you have absolute title over property .Definitely you will get loan as per valuation of property.
1 Like

Adv Deepak Joshi +917017821512 (Advocate)     07 September 2018

if one bank denies approach other.
1 Like

Mohammed Sohrab   07 September 2018

thanks for your time

Kumar Doab (FIN)     07 September 2018

If the gift deed was valid/registered and has conferred title upon you and mutations recored is updated then lender may agree to lend.

Obtain mutations records with all link docs.

Check with lender(s).

Kumar Doab (FIN)     07 September 2018

Usually lenders ask for consent of legal heirs so that there is NO contest to the title of secured asset..

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