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Can execution petition on gifted property be challenged
29-Jan-2023 (In Civil Law)
Hi Experts, My father took 10 lakhs rupees from a guy. We were paying interest. Suddenly he pressurized my father to pay the entire amount. Last year, the guy filed a OS case and it was decreed and He filed a EP to recover the amount against to my father Home property. The property was gifted to my father from his elder brother. Currently the property is in bank (mortgage loan) and am paying the interest, EMI every month to the bank. Now my queries are below. 1) Is it the bank allow for auction as it’s a bank property(mortgage loan) ? 2) Is there any possibility to stop EP as it’s a gifted property ? 3) Any other ways to secure the property ? Please help me. I need your guidance to secure my property. Regards,
You may file an application for seeking the extension of time for payment on the ground that you have already taken a loan on the said property and the same has been mortgage before bank and requesting the Hon'ble Court that you are ready undertaking in the form of an affidavit before executing court that you will pay the said amount within the stipulated period.
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Adv. Dikshant Khanna
Delhi | 25+ Answers
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