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Can property on which tax is not payed be used as collateral for loan
20-Feb-2023 (In Property Law)
i have bought a land few years back while applying for the patta documents i found out that the previous land owner has not payed the taxes for these land, now the government is processing to relieve the land ceiling but i have to pay a particular amount ,now i wanted to show this property as a collateral security for my daughter's studies wil this affect the loan process?
This is his absolute duty to pay his Taxes therefore its his liability; in this context a instant legal notice can be served on him besides that even damages can be claimed through him we can move to civil court as well wherein we can file for damages.Therefore it was his duty to clear it out and we have all the remedy to opt for the civil procedure for asking him the same. Also, it will not affect putting the property as a collateral security for education loan purpose.
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Adv. Siddhant Sharma
Delhi | 500+ Answers
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