The deed of conveyance can not be registered without the consent of the mortgagee.
If it's done then also the mortgagee shall have first charge upon the property.
NRI- Process for gift registration of immovable property with mortgage Thanks Usha
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The deed of conveyance can not be registered without the consent of the mortgagee.
If it's done then also the mortgagee shall have first charge upon the property.
You can execute POA in favour of family member to execute gift deed on your behalf
2) POA should be attested before Indian consulate
3) POA holder can then execute registered gift deed on your behalf
You just had mentioned gift deed registration but you have not mentioned who will be donor and donee.
The Gift Deed is a legal proof of property transfer from the donor to the donee.
Whether you will be Donor or Donee. If this is clear than we can provide you accurate process.
A property under mortgage cannot be transferred to a third party by the owner by executing a registered gift duty.
A mortgaged property can be gifted after redemption of mortgage. You can clear the outstanding loan dues and can gift the property without any hassle. In case, you gift/Will a mortgaged property, the donee besides accepting the Gift, also has to accept the burden/obligation of mortgage.
1. As per law, mortgaged property can not be dealt with in any way by the mortgagor without the written consent of the mortgagee.
2. If it is an equitable mortgage with the Bank creating security interest on it against loa provided, the you shall have to avail written consent from the Bank for registering then gift deed.
3. In the above case, the Ban will make the donee as the guarantor/mortgagor for the said loan and keep the dais gift deed in its possession to continue have mortgage on the said property.