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Court attached property due to non payment of loan
21-Jan-2023 (In Recovery Law)
My father has dafualted in loan and matter is in DRT he had a joint property parental property and the time of taking loan he declared his share as asset .He had lost his business and sold that share of property to some body .after one year i have purchased that property from that person my father sold his share, from my own source with proper registry in my name now DRT has sent attachment order of property in impression that the same belongs to my father only. the another share of property belongs to my uncle so now its in my name and my uncle name jointly me and my uncle filed a objection against that attachment order.can u guide what will happen? THE PROPERTY WAS NOT MORTGAGE TO ANY BANK
Maybe your father was the guarantor/ Co borrower in the loan. You will have to appeal the order / notice by invoking appropriate legal remedy and present your defence there. Better opinion can only be provided by seeing the documents.
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Prima face, after looking at the facts, the attachment order passed by DRT should be recalled.
However, it is advisable that you share copy of pleadings and attachment warrant with a lawyer and enable him/her to form an opinion in this regard
However, it is advisable that you share copy of pleadings and attachment warrant with a lawyer and enable him/her to form an opinion in this regard
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Adv. Urfee Haider
Delhi | 200+ Answers
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You can file objections/ application for impleadment in DRT showing your ownership trail and it will be beneficial if you could also show your money or the source of money for purchase by you.
If the property was not mortgaged by your father to anyone or any bank, you can show yourself as bonafide purchaser. Also you could seek assistance from the 2nd buyer (who purchased from your father and further sold to you) to give his statement, if required.
If the property was not mortgaged by your father to anyone or any bank, you can show yourself as bonafide purchaser. Also you could seek assistance from the 2nd buyer (who purchased from your father and further sold to you) to give his statement, if required.
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Adv. Atit Jain
Noida | 25+ Answers
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According to law bank can sent u the attachment order due to ur father non payment of loan but as the condition u described that property is in ur name now, means bank has no power to attach ur property, your object is legal but there is also many thing in dis matter dat will only be solved by your lawyer.So go against the order in the DRT.
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Adv. Ashutosh Mishra
Delhi | 25+ Answers
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Considering your facts and circumstances it seems your property can't be attached. so you have rightly filed the objections. for better advice you need to show your documents then only I can advice you properly. Feel free to contact me whenever you wish so.
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Adv. Brajesh Kumar
Delhi | 100+ Answers
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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.
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