how can my mother clear loan of a jointly owned home
I have a home loan of a property jointly owned by me and my mother but loan is only in my name. Lets suppose I become unavailable or no where to find, what happens now?
What I want is my mother clear the loan amount and get an NOC from bank and she should be able to sell the property on her own without any paperwork or anything from my side. Will an affidavit or power of attorney do the trick?
All you need to do is to make a Power of Attorney (POA) authorizing your mother to act on your behalf. The POA must be registered to enable your mother to sell the Proprty in your absence. It will also authorize her to get NOC from the bank and deal with all formalities of closing the loan.
- Disclaimer: The above query and its response is NOT a legal opinion in any way whatsoever as this is based on the information shared by the person posting the query at LawRato.com and has been responded by one of the Documentation Lawyers at LawRato.com to address the specific facts and details. You may post your specific query based on your facts and details to get a response from one of the Lawyers at LawRato.com or book a Detailed Consultation with a Lawyer of your choice to address your query in detail.
Get Started >>
Answers by Our Lawyers
- False criminal case filed against me and wrongly convicted
- How to handle a complaint against bank
- Whether scanned sign on letter sent through E-mail is valid?
- Can i remarry after final motion of mutual divorce?
- Notarised agreement with builder still no work started what action