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Can a business loan be availed on leasehold land?
06-Sep-2023 (In Property Law)
I have a leasehold property and i need a business loan regarding this property. There are two leasehold property, both of 90 years, out of which one is expired and all lease rent are paid. Please give me solution for our this family property.
Usually leases property is not accepted as mortgage by banks as the lessee does not have right of sell although he owns property for a specified number of years. However if the lessor permits for mortgage as in the case of leased government land or houses by housing board or urban development bodies it can be accepted for mortgage. you need to check with the bank as well once do they mortgage a property of which you are not a title holder
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Adv. Siddhant Sharma
Delhi | 500+ Answers
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