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Collateral securities

(Querist) 25 February 2013 This query is : Resolved 
Dear Sir,

Please clarify the following

we want to approach for bank loan,for that we get the collateral's ,he(land owner) asked us 50% of loan amount and said that "there is a lifting clause in t.p act through that after repaying the loan the land will be of loan taker and land lord will lose the rights"

is there any clause like that..

please sir....clarify that urgent....

Thanks,
Naveen
Report Abuse
RAJU O.F., (Expert) 26 February 2013
Find another collateral security. No body will part with 50% of loan amount to the mortgagor.
Raj Kumar Makkad (Expert) 04 March 2013
The term is not legal one so not advised to go ahead.
prabhakar singh (Expert) 04 March 2013
You are being misguided by him.

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