Nri
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
26 December 2014
whether an nri having foreign passport can give guarantee to a bank for obtaining loan by resident relative in india and also whether he can hypothecate his property in india to Indian bank for obtaining loan by his resident relative
03 January 2015
Yes, Bankers do accept such a guarantee. Bank normally insists that such a guarantee be executed and registered with that FOREIGN country.
The NRI having foreign passport can very well MORTGAGE/ hypothecate (as the case may be)
Again the banks may insist that such a deed be executed by the NRI in his country before appropriate authority of REGISTRATION
The NRI having foreign passport can very well MORTGAGE/ hypothecate (as the case may be)
Again the banks may insist that such a deed be executed by the NRI in his country before appropriate authority of REGISTRATION
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