Posted on: 19th Jul, 2012 09:29 am
If a parent transfer a property (by grant deed) to his daughter and there's still a loan on the property, will the lender allow it? Or will the bank require the daughter to get a new loan.
welcome linaa,
the lender's permission has to be taken for the property transfer. he may ask the daughter to refinance the loan at the time of property transfer. if the lender's permission is not taken and if he comes to know about the property transfer from other sources, then he may call the loan due immediately.
the lender's permission has to be taken for the property transfer. he may ask the daughter to refinance the loan at the time of property transfer. if the lender's permission is not taken and if he comes to know about the property transfer from other sources, then he may call the loan due immediately.
Hello Linaa,
The sale deed has a legal value and it can be produced as an evidence. The sale deed is signed and executed by both the seller and the purchaser on a non-judicial stamp paper. All the documents that indicate the transfer of a property must be registered. The sale deed must be stamped and registered at the sub-registrar's office. If the sale deed is not registered, then the transfer of title in real estate is not valid.
:idea:
The sale deed has a legal value and it can be produced as an evidence. The sale deed is signed and executed by both the seller and the purchaser on a non-judicial stamp paper. All the documents that indicate the transfer of a property must be registered. The sale deed must be stamped and registered at the sub-registrar's office. If the sale deed is not registered, then the transfer of title in real estate is not valid.
:idea:
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