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I have internally took-over a Loan to buy a mortgaged property

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I have internally took-over a Loan to buy a mortgaged property

Last updated: April 18 2019
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  • I have internally took-over a Loan to buy a mortgaged property

    Hi thr,

    I have recently bought a property under GNIDA. Property loan was running from a govt bank. I tookover his loan internally(Internal Bank Transfer) and all property documents transferred to my Loan file internally. After registration, When I headed to GNIDA authority for Mortagage clousure, I found that it was not formally mortagaged(Permission to Mortagage was not obtained). Seller had already issue d an NOC from the bank. As per my dealer, I need not to do anything now as the property was not formally mortagaged with Bank by GNIDA because Seller never requested for the same.

    When I contacted my bank regarding this, they assisted me same. they said Permission to mortagage is not mendatory.

    Should I do anything now with the NOC given to seller by Bank or its all good?



    Many thanks in advance.
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