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Rights of POA in mortgaged property
15-Jul-2023 (In Property Law)
If house is mortgage with bank. Can the owner who took loan from bank...make any any POA to sell property. And can POA holder take any loan on same property....also if I purchase the property from owner can POa holder claim his ownershop
As per your query
Once the property is mortgaged with the Bank against a loan, the owner can not create any right in respect of the said property. Prior to selling the said flat the Owner has to obtain NOC from the Bank. The bank can take objection for selling the said flat. No loan can be taken on the said property once mortgaged.
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Adv. Neelkanth Goswami
Thane | 400+ Answers
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