Registry of land while there is a loan on property

598 votes

Thank you for your query. Based on what you've shared, here's what you need to know: since your father had taken a loan and passed away, and the property is still under that loan, the bank likely has a charge or lien on the property. That means the property can't be legally sold or registered in someone else's name unless the loan is cleared or the bank issues a No Objection Certificate (NOC). If someone is telling you that they can do the registry through some “setting” without repaying the loan, please be cautious. That could lead to legal trouble later—for both the seller and the buyer—because the loan stays attached to the property, and the bank can still take action, even after the sale. The safest way forward is to either repay the loan, or use the buyer’s payment to clear the dues at the time of registry, ideally with the bank’s involvement. If you’d like, I can help you review the documents, communicate with the lender, and ensure the sale is done legally and safely. Let me know if you'd like assistance.

Advocate Abhishek Jat LawRato

841 votes

Banks have provisions of loan takeover. one who purchases the property can take over the loan from the previous owner and the rest of the amount will be paid by the purchaser . so in that case if legal heirs are valid owners of that property they have all rights to sell the property.

Advocate Prince Shrivastava LawRato