Information of loan closure

[User_6a95199d]

U

User_6a95199d
PARTICIPANT
February 28, 2025 at 12:52 pm

So basically I am planing to buy a flat resell one and the owner is little bit screwy. They mentioned that they had taken the loan and even showed me the loan closer document but that doesn’t contain the address of the property. Can I go to the bank and ask them regarding it and what are legalities I have to keep in mind?

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[User_7f64d239]

U

User_7f64d239
PARTICIPANT
February 28, 2025 at 2:45 pm

NAL: If the seller has the clear Title to the property, you have got nothing to worry about the loan. The bank would not handover the property document, unless the loan is paid in full.
You can also visit the registrar’s office to check if there is any hypothecation on the apartment ownership.

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