Mortgage loan on joint property

Pl. some one reply as I will like to know too.

without demarcation fianncial institution wont lend a loan to you.

You are required to show the title papers pertaining to commercial property which is owned by you i.e.80%. Also you have take no objection from the third party who is owning 20%. Also give genuine reasons for obtaining mortgage loan from any financial institutions.

I also suggest you to check with any property lawyer before approaching a financial institutions for safer side.

regards,

murugesh iyer

9920074529

first of all approach a bank and take there advice but if bank ignore you approach a society they can help you.

In my opinion while mortgaging the joint property signatures of all the joint owners are required on the Deed of Mortgage and other documents. The Joint Owner can put a covenant in the document that he shall be liable only to the extent of his share in the property .

Adv. Anand

Thanks you all for your replies.

I am willing to take responsibility for the entire amount I wish to take as O/D based on the market price of my share of property and keep the joint holder free of any liability. Still Will I have to take the signatures of the joint holder??