674+ Lawyers are online 
Can a Bank sell a property whose loan is defaulted ?
13-Feb-2023 (In Property Law)
I purchased a property from an owner whose house is mortgaged. The bank and the seller contacted me and I became ready to buy the property as the bank manager assured me of possession as soon as the payment is made. I made a payment by cheque to the co-operative Bank and not to the owner. The Flat is registered in my name. But I have not got it's possession even after one year. The Flat owner asked me to give him back the Flat to which I agreed and he said he will pay me back by January 2017. But he did not pay. In front of the police he said that he will pay in 6 months. But I know he won't. He has lied to me about everything from the beginning.
Please Advice me.
Your information is not completely understandable. How did you returned the flat to the previous owner, is not clear. Did you transferred the ownership by executing registered deed? You have committed mistake from the beginning. You could have purchased the flat after the same being auctioned by the bank as per the provision of SARFAESI Act, 2002. In that case you could have compelled the bank to deliver you possession, by initiating legal proceeding. After knowing the manner how you have given back the flat, it would be possible to advice properly.
Helpful?
24+
24+
Adv. Supratim Deb Purkayastha
Guwahati | 25+ Answers
CONTACT NOW
Disclaimer: The above query and its response is NOT a legal opinion in any way whatsoever as this is based on the information shared by the person posting the query at lawrato.com and has been responded by one of the Divorce Lawyers at lawrato.com to address the specific facts and details.
Connect with top Property lawyers for your specific legal issue
No Comments! Be the first one to comment.
"lawrato.com has handpicked some of the best Legal Experts in the country to help you get practical Legal Advice & help."
