Is it lawful to buy and sell mortgaged apartments?

The mortgaged property may not be sold, replaced, exchanged or given away, except for the cases specified in Clauses 4 and 5, Article 321 of this Code.

Illustration

According to the above provisions, after mortgaging the apartment at a bank, the mortgagor may not sell it to another person unless agreed by the bank or as prescribed by law.

If the bank does not agree to sell the apartment mortgaged at the bank, the parties can make the full payment of the loan with the bank to receive the Red Book, remove the mortgage registration and complete the purchase procedures to sell ​​the apartment.

It should be noted that if the bank does not agree, the parties should absolutely not make an witness statement to buy and sell an mortgaged apartment at the bank because of many potential risks.