Property Transfer With Mortgage

Summary

Transferring a mortgaged property in West Bengal generally requires lender consent. Without it, you may violate loan terms. Consider settling the loan or seeking lender approval before proceeding.

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I took a loan against my property to buy another property. Can I transfer my mortgaged property to my family member before paying off the loan?
Hi Rudra! In West Bengal, you generally cannot transfer a mortgaged property to another person without the lender's consent. Here are a few points to consider:
- The lender holds a lien on the property.
- Transferring ownership without clearance may violate loan terms.
- You may need to settle the loan or seek lender approval for transfer.
Would you like more information on how to proceed with your lender?