Want to sell property to sister while pending of loan. Bank refusing.
06-Nov-2023 (In Property Law)
I have purchased a house costs rs. 1800000 in 50% partnership with my widow sister on 1 Jan 2013. My sister paid cash rs. 900000 for her 50% part and I took the loan rs. 900000 for my 50% part and now original papers are with the bank and the outstanding amount is rs. 650000. Now I want to sell my 50% share to my same sister for rs. 1000000. My sister paid rs. 375000 cash to me and wants to take loan for rs. 625000 but bank refused for the same. Please tell me what should we do for the above said process?
Your will have to pay the outstanding amount to the bank and then you can sell the house.
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