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Q. can I make loan agreement from a person living in a far off place?

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Anonymous

posted 1 month ago

question iconcan I make loan agreement from a person living in a far off place?

I want to lend a loan of 1 lak rupees to my friend who lives in ORISSA , where as I live in Punjab. I want make loan agreement for security.

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Anik

Anik

Responded 1 month ago

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A.Dear Client,
Yes, you can lend money to a person who lives in different state and a loan agreement signed by both party or either of the party will serve for the security purpose. In case you are giving a mortgage loan you have to register it with the Sub- registrar of assurances.
Thank You.

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Kishan Dutt Kalaskar Retired Judge

Kishan Dutt Kalaskar Retired Judge

Responded 1 month ago

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A.Dear Sir,
You may take it through post and by the by your advise to take postdated cheque.

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