Need clarification on GP of a property


i had a loan in bank against property of 5000000 of 75000 emi per month..on e person came to me and said i will clear your loan in bank..u have to do GP YOUR PROPERTY .. and u can give the amount after u earn the required money.. here i wnt to know what is GP OF PROPERTY

Answers (1)


134 votes

Loan against property in bank is safe compared to private persons. Sale cum GPA to the private persons is not advisable. Once the sale cum GPA given to a person, the property Rights belongs to him. You don't have any Rights on your property. Please consult your legal advisor for more details or e-mail me for more details.
Thank you. Have a nice day.


Googling your legal issue online?

The internet is not a lawyer and neither are you.
Talk to a real lawyer about your legal issue.

Popular Banking / Finance Lawyers


Advocate Saifuddin Saifee
Maharani Road, Indore
18 years Experience
Advocate Shikhar Khare
Jangpura Extension, Delhi
6 years Experience
Advocate Barkha Bhalla
Banjara Hills, Hyderabad
16 years Experience
Advocate Sunil Dalal
New Friends Colony, Delhi
22 years Experience

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 Banking / Finance 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 contact a Lawyer of your choice to address your query in detail.


Related Articles



"LawRato.com has handpicked some of the best Legal Experts in the country to help you get practical Legal Advice & help."

Similar questions

took personal loans for sole proprietorship business which failed. I literally have no money or assets except a house that i live in which also genera…

Read More

Hi, I have a personal loan whose EMI is 16100. I lost my lost job so not able to pay the EMI. Now recovery agents keep calling me and asking for payme…

Read More

Can I get the identification from bank who has withdrawn money from my ac because he has presented a bearer cheque at bank without my knowledge and fr…

Read More

I have taken the education loan from a Bank . What happened if i am unable to pay my education loan if i not get any job . What are the action will be…

Read More