Legal Question in Banking Law in India
Can huff through its karta can sell the property what precautions Bank should take
Asked on 8/12/16, 9:32 am
2 Answers from Attorneys
he can sale for good of his family members,why bank should come in picture.
Answered on 8/13/16, 9:45 pm
Vivek Mapara
Vivek N. Mapara
Under the Hindu Joint Family system, a Karta has the authority to sell the Joint Family Property, for the benefit of the Joint Family. He need not take permission form other members of the Family.
However, before the Bank can sanction any loan based on such transfer, it is essential to identify whether the person action as a karta is actually the Karta of the Family. Also, if there is any suspicion then NoC from other family member can be sought for.
Answered on 8/19/16, 11:56 am
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