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Phoenix (SSE)     19 April 2010

Difference between NOC for Sale and NOC for Mortgage

Hi Experts,

Can someone please explain me the difference between NOC for Sale and NOC for mortgage?.

Does Banks refuse loan if both are not available?

Society Chairman created problems to fellow member who sold his flat recently (because he was part of a small group who filed case against the MC for non conduct of elections).

Is there no other way to sell a flat without Society MC intervention,by this i mean can Corporation have an overriding power for such cases?

Thanks in advance for your advice.

 

 



Learning

 2 Replies

G. ARAVINTHAN (Legal Consultant / Solicitor)     20 April 2010

NOC for Sale means the signatory have no objection for the sale of the property, but the signatory have to sign in the consequent stamp papers.

 

NOC for Mortgage refers to no objection to put the property for Mortgage alone

bhagwat patil (Property due diligence 9422773303)     20 April 2010

yes u can


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