State Act

The Himachal Pradesh Town and Country Planning Act, 1977

78v. No mortgage without consent.-(1) No promoter shall, after he executes an agreement to sell any apartment or plot, mortgage or create a charge on such apartment or the land or the plot, without the previous consent of the person who takes or agrees to take such apartment or plot, and if any such mortgage or charge is made or created without such previous consent, it shall not affect the right and interest of such person. (2) If a promoter has executed an agreement of sale of an apartment or a plot with a buyer and has not yet received from him all the amounts agreed to be paid, the buyer shall not mortgage or create a charge against such apartment or plot without the previous consent of the promoter : Provided that the promoter shall not withhold consent if the mortgage or charge is for the purpose of obtaining finance for the payment of amounts due to the promoter.