Banking regulation on home loan on gifted property
This query is : Resolved
11 July 2018
Dear Expert,
Recently I going to be purchased a house property whichever given to the owner in Gift. The Gift deed is duly registered but contain condition of nontransferable of aforesaid house property. When I consulted from my home branch manger for home loan, he said he didn't gives loan on gifted property, because of condition of non transfer-ability. please help ?
Recently I going to be purchased a house property whichever given to the owner in Gift. The Gift deed is duly registered but contain condition of nontransferable of aforesaid house property. When I consulted from my home branch manger for home loan, he said he didn't gives loan on gifted property, because of condition of non transfer-ability. please help ?
CA R SEETHARAMAN
(Expert)
11 July 2018
You can't buy the property as the owner doesn't have the right to sell. Conditions put on gifted property prevail.
26 July 2018
But sir in section 10 of transfer of property such is condition void ab-initio, so is that applicable in my case ?
CA R SEETHARAMAN
(Expert)
27 July 2018
Such conditions prevail on gifted property
29 July 2018
Sir
can you refer me the section who said that section 10 is not applicable in case of gift and condition of non transfer-ability. please help.
can you refer me the section who said that section 10 is not applicable in case of gift and condition of non transfer-ability. please help.
CA R SEETHARAMAN
(Expert)
29 July 2018
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