636+ Lawyers are online 
Can a mortgaged flat be sold without a partial discharge deed
07-Jun-2023 (In Property Law)
Hi I am planning to buy a flat from the land owner of a joint development project. The land owner holds 12 flats in this project When i see the encumbrance certificate i can find that the company which is headed by the land owner of my project has taken loan from a financial institution for a project which is done by his company. When i have asked them they told that this flats has been given as a supporting documents. for the loan which they have taken. They have also told that they have mortgaged the flats for the project which they have been constructing . Can they sell the flat without a partial discharge deed ? As per them as it is a supporting document the partial discharge deed is not required. Is it correct?
sir, I have gone through your question. Learnt that the land lord has mortgaged the flats for availing loan. It shows that the charge has been created thereon.
If the morgage deed is registered one or equitable mortgage on title deeds, unless discharge the charge on the property, he cannot sell. If you purchase the same, it will become defective title till obtain discharge certificate from the financial institusion by cancelling the mortgage .
Helpful?
12+
12+
Adv. Chandrashekara Reddy K N
Bangalore / Bengaluru | 5+ Answers
Chat
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 Property 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."
