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Can land inherited in a will be mortgaged as a title deed for loan purpose at a bank?
Wiki User
∙ 13y ago
You cannot grant a mortgage on property you don't own. The estate must be probated so title passes to the heirs legally.
Wiki User
∙ 13y ago
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Can a house that was inherited with a reverse mortgage then be reverse mortgaged by the person who inherited it and yes they are over 62 years old?
Yes, the person who inherited the house can choose to obtain a reverse mortgage on the property, provided they meet the age requirement of being over 62 years old. They would need to go through the normal process for obtaining a reverse mortgage, including meeting with a HUD-approved counselor and receiving the necessary financial counseling.
How lease property mortgaged to Bank can be sold?
it can be sold to the lessee
Does the bank still collect from a deceased co signers estate if the property was sold?
The bank has a lien on a mortgaged property that is not affected by a transfer of the property. The bank will go after the decedent's estate and the cosigner for payment of the mortgage. If the mortgage isn't paid the bank will take possession of the property by a foreclosure.The bank has a lien on a mortgaged property that is not affected by a transfer of the property. The bank will go after the decedent's estate and the cosigner for payment of the mortgage. If the mortgage isn't paid the bank will take possession of the property by a foreclosure.The bank has a lien on a mortgaged property that is not affected by a transfer of the property. The bank will go after the decedent's estate and the cosigner for payment of the mortgage. If the mortgage isn't paid the bank will take possession of the property by a foreclosure.The bank has a lien on a mortgaged property that is not affected by a transfer of the property. The bank will go after the decedent's estate and the cosigner for payment of the mortgage. If the mortgage isn't paid the bank will take possession of the property by a foreclosure.
What can I do when a property has been left to me in a will after a foreclosure of that same property has been adjudicated?
As I understand your question, you 'inherited' a property that was the subject of a foreclosure. The bank has a superior title and you cannot inherit the property. The bank owns it.
To give a flat which is mortgaged to SBI on rent in mumbai for 11 months under leave and licence agreement do you need NOC from bank Once the agreement is readydo I need to register it immediately?
To give a flat which is mortgaged to SBI on rent in mumbai for 11 months under leave and licence agreement do you need NOC from bank Once the agreement is ready do I need to register it immediately do I need the following documents for this purpose 1. NOC from bank 2. NOC from builder/society 3. Police verfication of the tenant 4. Registration of agreement in the court
What will happen to mortgaged property placed in trust?
The property will transfer subject to the mortgage. If the mortgage isn't paid the bank will take possession of the property by foreclosure. However, please note that most mortgage documents contain a 'balance due on transfer clause". That means if the title to the property is transferred the bank can demand full payment of the mortgage. You should consult with your bank before making this transfer.
If you are making payments to the bank for your car does the bank have your car title?
no,you should have title.
How do you sell a car when the bank has the title?
Contact the bank. You can't sell it without the title.
Is the title considered clear if the vehicle is financed through a bank?
A clear title is a title that has no financial obligation against it; therefore a title held by the bank is not a cleared title.
If you subdivide mortgaged land into 60 lots can the bank discharge each parcel without money being exchanged?
The bank would issue a partial release to clear the title to each lot as the bank received a payment against the principal. You need to consult with the bank to determine how much it will require for each lot to issue a partial release. If you sell any lots without notifying the bank, the lots will be subject to the mortgage, the bank will have the right to demand full payment of the mortgage immediately and the buyer may pursue you for fraud.
How can you add a name to a title and the bank is the lien holder?
A person cannot add a name to a title if the bank is the lien holder unless the bank agrees to the title name addition. A person could approach the bank and ask them to add the name to the title.
What is RBI guidelines on settlement of loans under One Time Settlement Scheme?
the value of mortgaged property does not matter, bank has to stick to its acceptance of the value.
