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transfer of mortgage

Last updated: April 13 2012
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  • transfer of mortgage

    Im a nube in R.E. Still learning.
    My question is; if I buy a piece of Real estate with bank loan for the purpose of recieving cashflow from rent (land+house), then if R.E market rizes, can i sell the property along with mortgage to other party?

    is it possible in india?
    Last edited April 10 2012, 06:03 PM. Reason: writing mistake
  • #2

    #2

    Re : transfer of mortgage

    One solution can be that buyer should agree to take loan from same bank and bank also should agree to transfer the remaining principal loan amount to his new loan account ELSE easy one is that you pre-pay the loan (either from your own source or from part which buyer pays).

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    • #3

      #3

      Re : transfer of mortgage

      I've found out that there is even an easier way. Something called Assumable Load and Assumable clause which enables transfer of mortgage from one party to another. However not all mortgages are transferable.

      ...........Any More information will be Appreciated.........

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