Guarantor Liabilities | Vkeel - Free Legal Advice

****n

Ahmedabad

I was a Guarantor in a company in which my father was one of the directors. The company went into the NPA due to fraud by other directors in 2016. Now I have one property in my name having a home loan on it and It was not mortgaged for a business loan and I want to sell it and for that buyer needs to give notice in the newspaper for title clearance. So my question is being a guarantor can I sell my property and If I sell there will be any trouble from the bank side. and also any issue can arise if the buyer gives notice for title clearance in the newspaper.

Expert's Answers(3)

Advocate Suneel Moudgil
Panipat, Haryana

40 Client Ratings

1. you can sale the property with permission of the bank from where you have availed the loan facility, 2. the buyer will make payment in the account of the bank for the due amount and rest payment in your account, 3. whether you have provided property details while becoming a guarantor

September 5, 2020
Advocate J L Naagar
Jalandhar, Punjab

169 Client Ratings

The pertinent question is that is the property under some lean with any financial institution, under mortgage or otherwise under any encumbrance If still not You can. Otherwise the first lean will be that of the financial institution with which it is under encumberance. Please give me Rank Five and follow me after reviewing my resume and book a consultation for further discussion and explanation if required.

September 5, 2020
Advocate Abhimanyu Gurawalia
Patli Hajipur, Haryana

60 Client Ratings

you can not sale the property till there is bank loan on it

September 5, 2020