660+ Lawyers are online 
Can a land on lease be used as collateral security for loan
30-Jun-2023 (In Banking / Finance Law)
I WAS GIVEN 2 .5 ACRES OF LAND ON 20 YEARS LEASE DEED, FOR PURPOSS OF AGRICULTURE WAREHOUSE. CAN I USE AS A COLLATERAL SECURITY FOR MY PERSONEL LOAN.
Hi,
no need of collateral security for personal loan in private banks like icici, hdfc. Its purily on your income base and on your credit history (cibil score). So, please consult the branch manager for further details.
Helpful?
29+
29+
Adv. Syam Charan Godi
Bhimavaram | 100+ Answers
CONTACT NOW
Yes you can do that as well as stated you have only given lease your property to cultivate and other purpose but while taking mortgage loan on that property the lessee also nee do sign agreement for acceptance then you can go forward on it.
Helpful?
36+
36+
Adv. Sharath Chandra Murthy
Hyderabad | 100+ Answers
CONTACT NOW
It is possible to use a leased asset as a collateral for a term loan. Lenders may accept leased properties as collateral, but it depends on their policies and requirements.
Helpful?
Adv. Chikirsha Mohanty
Delhi | 200+ AnswersCONTACT NOW
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 Divorce Lawyers at lawrato.com to address the specific facts and details.
Connect with top Banking / Finance lawyers for your specific legal issue
No Comments! Be the first one to comment.
"lawrato.com has handpicked some of the best Legal Experts in the country to help you get practical Legal Advice & help."
