Creation of registered mortgage with bank
adityamehta
(Querist) 11 April 2015
This query is : Resolved
My Mother is the owner of Ground floor portion of house by virtue of registered deed. She is also owner of portion of 1st floor by virtue of gift from my grand mother which is not registered. I am registered General power of attorney holder of my mother, not specific, said POA permits me to deal the matters in respect of said property of both floors including the mortgage, accordingly I offered the registered portion i.e. Ground floor to Bank for mortgage , am I eligible to offer or I have to have another registered POA specially for Ground floor, request to kindly clarify and enlite your views.
MANOJ HARIT
(Expert) 11 April 2015
U can create a valid mortgage on the strength of the existing POA
M/s. Y-not legal services
(Expert) 11 April 2015
your mother is entitled to give POA regard ground floor only.
since the 1st floor also in your mother name through an unregistered gift, it is challenge-able.
is your grandma still alive? who are the legal heirs for your grandma?
Rajendra K Goyal
(Expert) 11 April 2015
You can mortgage if your mother is alive. Bank may ask confirmation from your mother regarding the POA withdrawal.
T. Kalaiselvan, Advocate
(Expert) 12 April 2015
As a power agent of your mother, you can act on her behalf on all those matters which she can legally transact.
