This is very urgent.
My father are having 2 sons. I am living separetly with my family . And my father and other son lives sepately.
My father had taken a FLAT under HUF . He intends to take big loan against this flat as a mortgage from bank.
So he is demanding me to sign give a NOC against this that i have No objection in this.
i want to ask.
a] Is noc required to be given.
b]I do not want the burden of this mortgage to be transfered to me {being elder son} after his death.
And i do not want any rights whatsoever also.
c]so what precauutions shoud i take so that in future even after the karta, the mortage amount is not burdened on me as being the elder son.
d]also the thing is from last several years my brother and him without informing us taking several loans against the property and this cycle of taking loans goes on and it creates huge burden on the family.
I do not want this and want to break this cycle. So is it necessary to sign this NOc.?
Please advice me . Its urgent.
Regards
Swapnil