ujjwal bag (AM) 03 April 2023

Can i let out my flat for rent , which is still under mortgage to bank?

CAN I LET OUT MY FLAT FOR RENT , WHICH IS STILL UNDER MORTGAGE TO BANK?

I have take flat on home loan (Loan from LIC HFL). Can let out this flat for rent to someone?

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Real Soul.... (LEGAL) 03 April 2023

You must inform bank about letting out the property .

P. Venu (Advocate) 03 April 2023

In my understanding, you can.

Advocate Bhartesh goyal (advocate) 03 April 2023

Yes, If mortgagor have lawful possession of mortgage property can let out property on rent.

1 Like

Sidhhi 03 April 2023

Bank is concerned with the money you owe and won't object to it as long as you keep paying EMIs.

T. Kalaiselvan, Advocate (Advocate) 03 April 2023

There is no infirmity in letting out the property mortgaged as collateral security for the purpose of home loan, on rent, you can proceed.

1 Like

Rama chary Rachakonda (Secunderabad/Telangana state Highcourt practice watsapp no.9989324294 ) 03 April 2023

Mortgagor can give rent his property.In simple mortgage, the possession of the property and its title documents remain with the mortgagor only.

Dr J C Vashista (Advocate) 04 April 2023

I endorse the opinion and advise of experts herein above, the property can be rented out.

salmawisoky 20 April 2023

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