Mohan Dass 27 July 2019

mortgage of property

Sir. I am going to avail mortgage loan from a bank against my residencial property. For that, I already registered the MODT in favour of bank and deposit property documents. Now my clarification is whether is it possible for me to Register either WILL or POP in favour of the same bank on the same property.

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4 Replies

jayakumar.j (advocate) 27 July 2019

The same property could be cited for mortgage since the documentsa are already with the same ank the procedure could be easy.

Mohan Dass 27 July 2019

sir, it is OK, but in Registrar office, they are telling that either WILL or POP cannot be registered for the property already mortgaged. Which is legally correct ?

Mohan Dass 28 July 2019

Sir, it is OK for me. But in the Registrar office they are telling that Either WILL or POA cannot be registered for the property already mortgaged and refused to register my WILL in favour of bank. kindly clarify which is legally correct

G.L.N. Prasad (Retired employee.) 28 July 2019

Contact your Banker and bank's advocate for a solution. Also, contact a local advocate whether a will is a compulsory document that requires registration as per your state laws.