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Can bank take property possession from tenant without any notice ?


18-Mar-2023 (In Landlord/Tenant Law)

I have taken a property on unregistered rent agreement in Feb 2012 & doing readymade business & paying rents through neft only since then. In Dec 2013 my property owner pledged the property bank as a third party guarantee. The loan has become NPA & on Fri 11 Mar, an Advocate commission with bank officials came & asked us to give possession. No earlier notice. The appointment of ADV COMM says to take possession of property from respondent. I am only tenant but they forciably took letter from my son that he will give possession in 7 days. The 2013 bank civil valuation report confim our presence.

Answers (1)

Answer #1
383 votes

When the property was a mortgaged property and when the debtor fails to pay back the debt, then the bank takes over the mortgaged property through which bank can recover its dues. 

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