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Recovery of debt or transfer of ownership
30-Aug-2023 (In Civil Law)
Hi.. I given Rs. 6 lakh to relative on writing stamp paper for the period of 3 year. Amount paid in cash step by step e.g. 5k, 150000,1Lakh,......On stamp paper it is clearly mentioned that if borrower unable to pay debt then they have to transfer the ownership of property. Period already completed 1 year ago. Borrower not ready to extend period or transfer ownership of house. Still they can't given any 1₹. Please suggest me how can i recover my money or transfer the ownership of house of the borrower. Please suggest.
you can either file Money Recovery suit or you can file suit for specific performance of agreement, need to check the documents which you have entered into..
Depending upon the clauses in the agreement we can initiate proceeding..
first you have to serve a demand Notice, depending upon Notice reply you can decide further line of action
Depending upon the clauses in the agreement we can initiate proceeding..
first you have to serve a demand Notice, depending upon Notice reply you can decide further line of action
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Adv. Sharad Malode
Pune | 100+ Answers
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Is the Memorandum of understanding notarized and registered with clear mentioned points in discussion that there will be transfer of ownership of property. Also how much is the remaining balance left with accussed .
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Adv. Seema Ravindra Kulkarni
Pune | 100+ Answers
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is the document registered with the government?
merely because it's written on a stamp paper doesn't mean the borrower has to transfer ownership of the property.
ideally you should send him a notice stating that you will file a appropriate proceedings before the court of law for seeking reliefs against him and thereafter file a suit for recovery of the amount dues.
merely because it's written on a stamp paper doesn't mean the borrower has to transfer ownership of the property.
ideally you should send him a notice stating that you will file a appropriate proceedings before the court of law for seeking reliefs against him and thereafter file a suit for recovery of the amount dues.
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Adv. Garima Anil Mehrotra
Mumbai | 500+ Answers
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