guestneedhelp (home) 25 July 2013

Mortgage property

Dear Experts

Thanks in advance.

Deceased father took loan from a Society by mortgaging the title deed of the property.He failed to repay the loan.Nominee is his wife i.e mother.According to the Society mother has to repay the loan, demortgage the property as being nominee she is the sole owner of the title of the property which they will transfer after the loan is paid.

Mother has 3 children.

Please advice.

1.Mother's ownership right on the property.Is she the sole owner ?

2.Mother wants to make a registered WILL of the mortgage property.In mortgage condition is it possible? or first demortgage it then make WILL?

3.Any documents related to the mortgage property required to make the WILL.

Regards

Reply Follow

2 Replies

niranjan (civil practice) 25 July 2013

Three children and mother have equal right in the property,so mother alone cannot redeem the mortgaged property.If out of three children,some are minors,then as natural guardian she and other major children can jointly redeem the property,even thereafter,minors will have equal share in the prperty.Mother alone cannot make Will of the whole property but she can make Will of her share only.

guestneedhelp (home) 25 July 2013

Dear Sir

But Society is telling mother is the owner of the property after father's death...since father has made her nominee.they will tranfer the tiltle deed in her name when property is demortgage.

Is it possible? or they are misleading facts?

regards