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Loan taken by grandfather being asked to vacate house what to do
04-Sep-2023 (In Banking / Finance Law)
One of my relative has taken a loan of rs.150,000 in 2009 against a house worth rs.15 lakhs now which was in the name of grandfather who has died and gave original home papers as security. now, that relative is also dead and the landlord is asking the grandsons to vacate the house where they have been residing since the last 20 years. he is asking for money and says that he has not received even the interest. the relative's sons do not have any clue about what payment has been repaid. now, what is the option for these sons who have been residing in the house for the past 20 years ? how much will be their liability ?
hello client,
as per your query is concern is about the loan of rupees 150,000 in 2009.as your are stating that your grandfather has given the original papers a security in lie of the loan in this case the person is having the right to claim the loan amount along withe the interest of what is the calculation but it does not means that he will claim the over all property and for this claim he have to prove everything simply he can do so.
as per your query is concern is about the loan of rupees 150,000 in 2009.as your are stating that your grandfather has given the original papers a security in lie of the loan in this case the person is having the right to claim the loan amount along withe the interest of what is the calculation but it does not means that he will claim the over all property and for this claim he have to prove everything simply he can do so.
Helpful?
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Adv. Vishwanath Pratap Singh
Delhi | 500+ Answers
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Tell me on what rate of interest the loan of Rs.1,50,000/- was taken in 2009. If we know the rate of interest, we can calculate the interest for 8 years and add the same in the principal.
Secondly, try to find out what amount the grandfather and your relative had repaid. Please also find out whether the security of the said house is in writing or not. If you do not have any detail, then ask the landlord to tell the liability? Landlord cannot dispossess the grand children forcibly without due process of law. In case he has any documentary evidence, ask him to take the money through due process of law. He cannot take law in his own hand. In case, he further threatens the grandsons, lodge a complaint with the police to the effect that he cannot dispossess them without due process of law. Opine accordingly.
Secondly, try to find out what amount the grandfather and your relative had repaid. Please also find out whether the security of the said house is in writing or not. If you do not have any detail, then ask the landlord to tell the liability? Landlord cannot dispossess the grand children forcibly without due process of law. In case he has any documentary evidence, ask him to take the money through due process of law. He cannot take law in his own hand. In case, he further threatens the grandsons, lodge a complaint with the police to the effect that he cannot dispossess them without due process of law. Opine accordingly.
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Adv. Dalip Singh
Delhi | 25+ Answers
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Plz ask for the loan documents and if he has raised any previous demand notice. It would be interesting to see if the claim is time barred or not. Ask the lender (what do you mean by landlord..he is just the lender i suppose?) for all document copies.
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Adv. Joydeep Nath
Delhi | 100+ Answers
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