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Bank loan by mortgaging property which in my daughter's name
02-Dec-2023 (In Property Law)
Hello sir/madam I have a query regarding my property. I have a home, which i want to sell. The house is in my two daugthers names. One is minor other is major. Will I be able to take bank loan by pledging my house documents? property is worth 1.5 cr. If yes, then how much would bank allot me, what guarantees do I need to furnish. How much time it would take to get permission from court in case if i want to sell the property as one of the girl is minor. she is around 14 yrs.
First of all it is very difficult to sell a property when the same is in the name of minor. You cannot sell the property of minor without seeking orders from Court Furthermore it depends on the court and the place where you are filing the present case.
However usually court will direct the share of the minor shall be kept for his interest and cannot be utilized else where unless the same is spend for his paramount interest
Adv. Siddhant Sharma
Delhi | 200+ Answers
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