Mortgage

navin (Querist) 24 August 2013 This query is : Resolved
SIR ,"A "HAS MORTGAGED A PROPERTY TO ME by registered simple mortgage.can he transfer property to his son "B" WEN YET THE PROPERTY IS MORTGAGED TO ME.

Follow Query

Report Abuse

Guest (Expert) 24 August 2013
Although, the title of property is still in his name, but due to the property having been mortgaged he can gift to his son only after the property is released from mortgage bt making that free from incumberance.

ajay sethi (Expert) 24 August 2013
no he has to repay the loan before transferring the property in favour of his son .

prabhakar singh (Expert) 24 August 2013
There is no bar if son accepts the gift with burden of mortgage made in your favor.

It is choice of donee (son)to accept or refuse.

Once son accepts the gift,he is bound by burden on the subject of the gift,that is to say,to discharge the obligation of mortgage in your favor.

Any transferee from mortgagor would have to carry on burden of mortgage imposed on the subject matter.

Previous

Next

You need to be the querist or approved LAWyersclub expert to take part in this query .

Click here to login now

Similar Resolved Queries :

Ask Query
Unanswered Queries