dispose mortgage property - reg
Querist :
Anonymous
(Querist) 13 April 2010
This query is : Resolved
Thanks Sir for the reply in 13-4-10 reg disposing mortgage property.
In the EC the name of the company that is the MNC which provided the loan is rep by its official, who happens to be the president of the registered housing society too is appearing along with the name of the owner.
In case some wants to buy the property should the mortgage be released at the registrar office?
Or the property with out mortgage being released and with the name of the MNC rep. appearing will not make any difference for to effect such purchase or buy.
Pl clarify Sir.
Raj Kumar Makkad
(Expert) 14 April 2010
Property is required to be officially released prior to its subsequent sale. It hardly matters who is representing whom but the main question for consideration here is that the mortgage has been redeemed and relevant office has released the property as free having no encumbrance of any type.
