Legal Question in Banking Law in India
If I take a loan from the bank for home construction against the documents of that property
Now tell me can I sold that property
if I sell that property is it legal
Asked on 5/27/15, 2:16 am
1 Answer from Attorneys
Fca Prashant Chavan
Expert Edge LLP
27.05.2015
Dear Sir / Madam,
As long as the loan is not fully repaid, you cannot sell the property without the specific approval and consent of the Bank in writing. It would be deemed an illegal sale otherwise.
Regards,
Answered on 5/27/15, 3:47 am
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