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Can we sell house if it is on loan and father has case against him
29-Aug-2023 (In Property Law)
We have build a house by taking house loan from bank. Land is in the name of mother and loan is in the name of my father,mother and myself. Now my father has a case against his department. Department has issue recovery from my father by filling recovery notice through tehsil. Against that we have taken stay order from high court against that notice. Now we want to sell the house due to financial reason. Can we sell the house ?
Yes, you can sell the house but you need to inform the person and the Bank regarding the sale. the Bank dues is to be cleared before the Bank gives a NOC. till the loan is completed it is the property of the Bank and they have full right to stop you from selling it. and the person who will buy should know that you pay house loan so that requisite precautions and other formalities be taken care of.
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Adv. Siddhant Sharma
Delhi | 500+ Answers
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