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Property mortgage agreement question
05-Dec-2023 (In Property Law)
I need some money so I want to keep my property paper to a financer who in return is asking to sign an agreement where I will put the property in his name till the time I repay the loan. I wanted to ask is there any catch here, is this safe to do. Or is there anything I should include in the agreement to make my property safe?
In the present matter advise could have veen given only after perusing the agreement you are about to sign. There should be a mortgage agreement wherein you need not to put his name in the property the property shall only be mortgage to hime till the time you repay the loan.
Helpful?
Adv. Ruchi Singh
Navi Mumbai | 100+ Answers
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Yes you should include. You should give him the agency declaring that he will be your agent over the property and if in case you fail yo pay then he can take over the property. Do not make any agreement transferring the property in his name.
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Adv. Asha Bhuta
Mumbai | 100+ Answers
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This is my response to you:
1. Is this a registered financer?
2. If he is trustworthy? Whom did you obtain the contact of this person?
3. If you are comfortable then only go ahead;
4. Consult a local lawyer, show him the document and take steps.
1. Is this a registered financer?
2. If he is trustworthy? Whom did you obtain the contact of this person?
3. If you are comfortable then only go ahead;
4. Consult a local lawyer, show him the document and take steps.
Helpful?
Adv. Gowaal Padavi
Mumbai | 500+ Answers
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