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Bought auctioned house now previous owner trying to claim it
14-Nov-2023 (In Property Law)
Sir. We bought our house from auction in the year 2000 from ZIDCO. The house was auction because the owner cant pay the loan. Now on this years they have came back with many friends who have power in Mizoram and try to take our house through lies. And the files were all gone from the Zidco office (i think they hide or throw away) and told us that you will have to defend yourself . So we have to stand alone from this people with high powers .like The real owner was from burma and dont have ID, but this time he got eveything and have a big plans to take our house. They never have guts when the old director of ZIDCO was working, since he pension an new director was placed in the ZIDCO, they now advance to take us to court with several method
Once the foreclosure process begins, you have a limited amount of time to catch up on your mortgage payments before your lender accelerates the loan and refuses to accept anything less than payment in full. Unless you can pay off your entire mortgage balance at this time, your home will end up on the auction block. Fortunately, that isn't always the end of the story. Depending on the circumstances of your foreclosure, you may retain a right of redemption that allows you to reclaim ownership of your home after the foreclosure process is complete.
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Adv. Siddhant Sharma
Delhi | 500+ Answers
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