Legal Question in Banking Law in India
my father is working in indian bank he says that there is a property which every bank will get he applied . it is the property of debt which the bank takes. He says that i will get that property after he dies
Asked on 4/24/14, 8:13 am
1 Answer from Attorneys
Fca Prashant Chavan
Expert Edge LLP
24.04.2014
Dear Sir / Madam,
If your father has pledged / mortgaged the property to a bank and he has availed a loan against the pledge, there is no way the property will be automatically transferred in your name till the loan amount is repaid and fully settled by your father to the bank.
Regards,
Answered on 4/24/14, 8:18 am
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