88+ Lawyers are online 
Advise on buying mortgaged land
07-Oct-2023 (In Documentation Law)
Hi. I am considering to buy a 2500 sq.mt residential plot (42 lakhs) in a gated society in Pune, Handewadi. I got to know that the land is mortgaged with a private bank owing over 7 crores. The seller is providing me NOC from bank that allows him to sell a piece of land (plot). 7/12 will be made on my name after sale deed. Kindly advise how can i proceed with the transaction when the original sale deed and documents are with the bank. I am not sure about this process. Please advise.
Raina
If the bank provide NOC that they have no objection to the sale of the said land you can proceed ahead and with emutation procedure now in place in registration office your mutation entry are automatically generated through system and accordingly your name is mutated in 7/12 extract
Helpful?
Adv. Rakesh Tiwari
PimpriChinchwad | 100+ Answers
CONTACT 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 Documentation 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."
