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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.
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.
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29+
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Adv. Syam Charan Godi
Hyderabad | 100+ Answers
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Can I get loan on rented property?
You can get a monthly EMI of 85% of the net monthly rent if you own a freehold commercial property that you've rented.
Is Sarfaesi Act applicable to leasehold property?
The SARFAESI Act excludes the following assets: Money and securities issued under the Indian Contract Act of 1872 or the Sale of Goods Act of 1930. Lease, conditional sales, hire-purchase or any other contract in which no security interest is created. 11-Oct-2023
Can loan be taken against leased property?
Not all types of property are eligible for a Loan Against Property. Loan Against Property can be used on residential properties, commercial and industrial properties, leased properties, land, or leased properties. 03-May-2023
Can tenancy rights be mortgaged?
According to Section 65A(1), the mortgagee who is in possession of the property under mortgage has the right to lease the property, provided that he meets the conditions set forth by Section 65A(2) of TOPA. The mortgagee will also be bound by the lease unless the mortgage deed expresses a different intention.
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.
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Adv. Sharath Chandra Murthy
Hyderabad | 100+ Answers
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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.
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Adv. Chikirsha Mohanty
Delhi | 200+ AnswersCONTACT NOW
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