1) you cannot create third party rights as property is mortgaged to bank
2)you need bank consent to sell your undivided one third share in property
3) bank would not give its consent unless loan is repaid
4) bank can block sale of property
I am a Hindu, Property in TN is in the name of my deceased mother. We are three legal heirs Father, Son and Daughter holding a each share. Mother did not leave any will for the property and also property sale deed in the bank under mortgage loan. 1. Can any legal heir sell their share without other signatures. 2. Is this possible without property sale deed as well since it is in bank? 3. Can other legal heir put stay order and block the selling process?
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1) you cannot create third party rights as property is mortgaged to bank
2)you need bank consent to sell your undivided one third share in property
3) bank would not give its consent unless loan is repaid
4) bank can block sale of property
Bank loan is repaid with interest but sale deed is not taken out yet. Since my sister is wanting to sell property without our consent. Property is rented for 1L per month without including our names(father and me) in rent agreement. We are not receiving the rent share as well. Can bank still block sale of property by sister? If not what procedure she might do to sell the property. Also property share can be sold without property papers or not?
1. If the property is mortgaged same cannot be sold without the consent of the bank.
After mortgage is cleared the legal heir can sale his undivided share
2. Once property.title is free the other legal heirs cannot stop him from selling his share.
See bank need to give NOC and make release deed if loan is paid. She can sale.her individual share after that also you can challange the renting of soch property alone by her and can seek share in the rent.
1. Property of Deceased CANNOT be sold without mutual & consenting signatures of ALL residual legal heirs.
2. Property CANNOT be sold IF it is still Mortgaged, THEN original papers will be required to execute new Sale transaction.
3. You can file a Police FIR, requesting investigation and charge-sheet, for offences like trespassing, cheating, intimidation, fraud, breach of trust etc.... against the person, supported with all relevant supporting Documents & Witnesses.
4. IF the Police does not take action, THEN you can file private criminal case u/s 156(3) Cr.P.C., in the local Magistrates court, seeking directions to the Police to investigate and file charge sheet. The said Person may come down for settlement.
If bank loan is repaid bank cannot block sale of sister undivided share
you can file suit for partition for division of property by metes and bounds seek injunction restraining sale of property by your sister
The cosharer can sell the undivided share in the property to the buyer who is willing to buy in this status, and later on the buyer can file a partition suit to have separate possession of his share in the property.
However since the property is under mortgage toward the home loan availed, this mode can be possible only after the entire loan amount has been discharged in full.
The cosharer can even file an injunction suit restraining the other cosharer from selling the undivided share in the property for the reasons he may rely upon.
She cannot sell the proeprty without the original documents.
She may manipulate the sale by obtaining a certified registration copy also.
Therefore the other shareholders can file a partition suit seeking partition and separate possession of their legitimate share in the property divided properly by metes and bounds and good and bad soil.
They can also seek mesne profits out of the rental income augmented through this property belonging to all the legal heirs.
They can also file an application for temporary injunction restraining her from alienating the property in any manner including her own share in the property for the reasons stated therein, till the disposal of suit.
The bank will not return the title documents to her even though the home loan amount has been fully repaid and there are no dues to the bank thereof. The bank will obtain signature from all the legal heirs to return the title documents and other relevant papers owing to the death of the owner of the property.
Yes legal heir can sell his share but can't get possession as the same is a joint property. But he doesn't need other heir permission to sell his share
Can be sell but other owners can claim first right to purchase.
Since laon is clear, bank has no say and release the papers otherwise bank will lost them.
Copy of property document will require but this can be managed.
1. The property has been under mortgage for which it can not be dealt with without the written consent of the mortgagee bank or without getting the mortgage released. However, all three of you shall have to sign the sale deed for selling the said property.
2. If the property is sold with out the consent of the mortgagee bank, it will an illegal sale.
3. The Registrar will not register the sale deed if it is not signed by all the three legal heirs. So, the question of bringing stay by other legal heirs in selling the said jointly held property does not arise at all.
1. Has the Bank issued no due certificate against the loan for which the property was mortgaged? If yes, then the Bank will release the mortgage of the property and return the tityle deed to all of you together.
2. Bank will not block the sale of the said property at all.
3. You shall have to file a partition suit claiming partition of the said property with metes and bounds duly claiming share of the rent and till the matter is disposed off, the tenant should be directed to deposite the rent to the Court or Court directed account.
1. No individual share cannot be sold until the property is officially transferred on name of legal heirs because the property is on name of deceased.
2. No it is not possible for sale if property is mortgaged with bank.
3. No other legal heirs cannot stop one heir from selling it's share.
As the property is mortgaged, you can not sell part of the property without first getting your bank's consent.
after obtaining NOC you can sell property.
1. The property under mortgage cannot be sold without the consent of mortgagee.
2. You say that loan is repaid but sale deed is still with bank. This implies that mortgage has not been released. Hence, you cannot sell the property in the first place without either the permission of bank or the sale deed being returned to you by the bank.
3. Since the property is undivided each legal heir can sell his undivided 1/3rd share but the buyer cannot get the possession of the share sold to him unless he files a suit for partition against other two heirs and culls out separate possession of his 1/3rd share.