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Owner of the bike transferred the bike without settling the loan on it
12-Sep-2023 (In Civil Law)
I had purchased a bike around 7 months ago for rs 30000 while purchasing i didn't see the hypothecation details in rc book and the old owner also didn't tell about loan but when i go to rto they told me that unable to transfer due to hypothecation like that when i enquired about loan in bank they told me that you have 14000 due and which is not paying from past 3 months and now when i contacted the old owner they are not ready to pay the loan amount they have signed the form 29,30 and sale receipt and i have all original documents.... What legal action can i take against old owner and what all are the possibilities are there infront of me
Issue legal notice calling upon the previous owner to clear all dues within specified period. If he fails to clear the loan then you can recover amount paid by you to the Bank or you can file cheating case. But cheating case is difficult to get through. It is your duty to confirm hypothication before purchase.
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Adv. Anoop Gopalrao Deshpande
Hubli | 25+ Answers
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