Is power of sale to mortgagee legal and valid?

Is power of sale to a mortgagee without court intervention, legal and valid in a mortgage contract ?

Answers (2)

85 votes

In sarfase act the banks and financial institutions themselves or through their authorised person appointment by the reserve bank are entitled to bring the properties of the mortgagor in auction which the properties are secured for bank loan, on obtaining permission from magistrate of concern jurisdiction

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188 votes

If your mortgage deeds says about transfer of property in case of non payment of mortgage money, after stipulated period Mortgagor can insist the Mortgagee to execute sale deed by sending notice with RPAD.

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