quesFriend unable to return money given as loan

I have given money in cash to a friend at interest rate of 3% per month. From the last 8 months he has not paid the money. Now for the security of money he is ready to give me his house for a period of 6 months. If within six months he is not able to return me the property, will it be transferred to me? He is not having the registry of that house. He is having the POA with him. What to do?

  • ansDo you have a moneylender licence? How can you give cash as loan without any documents being executed.

    Contact a local lawyer and take all legal safe guards as per his advice. Ask the borrower to get the property transferred in his name by a sale deed. The POA does not confer any title to the property.

  • Send a legal notice for recovery of dues @ Rs. 1999/- only


    Know More
  • 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 Recovery Lawyers at LawRato.com to address the specific facts and details. You may post your specific query based on your facts and details to get a response from one of the Lawyers at LawRato.com or book a Detailed Consultation with a Lawyer of your choice to address your query in detail.
Consult best Recovery lawyers in India

Similar questions

My younger brother took money from house as for business purpose he gave it to…
Hello, I have an outstanding loan with a bank in Dubai from 4 years ago…

1. Ram takes loan of Rs. 1,00,000/- in cash from Shyam. 2. Ram deposits the…

I took a personal loan from a bank. I have paid 25 EMI’s till date.…

Recovery Lawyers in India

Advocate Jaspreet Singh Rai

  Greater Kailash 1
 Experience: 14 years


Advocate Prashant Mendiratta

  Lajpat Nagar 4
 Experience: 24 years


Advocate Sukhwinder Singh Rai

  District Court, Ludhiana
 Experience: 17 years


Advocate Sunil Kadam

  Fort
 Experience: 9 years


View all >>

How it Works

Know how LawRato makes legal advice easier and effortless

Ask a Free Question

Post a question and get free advice from multiple lawyers

Talk to a Lawyer

Easily find and book private consults with top lawyers in India

Get Fee Estimate

Receive multiple quotations for your legal requirement instantly