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Property agreement issues related to buy and sell


26-Aug-2026 (In Landlord/Tenant Law)
Hello,I need consultation on property deals....As my father had dealt a property of flat sold to 2nd party on 2017...for 22.5lacs.but 2nd party had taken a loan against property loan of amount Rs 18lacs and 2lacs they paid me initially, then, after, one year given me 17lacs of check from bank and till date 2nd party never paid me remaining amount.Rs 2.50 lacs. We still live in same flat..Now bank has issued an notice to vacate the flat as 2nd party is found default in paying loan. I nid solut
Answers (3)

Answer #1
882 votes
I can help you with this matter. This is an urgent property and bank-recovery issue, and the first step is to immediately examine the registered sale deed/loan documents, title papers, bank notices and possession notice. The answer will largely depend on whether the flat was legally mortgaged to the bank and when the mortgage was created. If the purchaser became the owner and validly mortgaged the property, the bank may enforce its security despite the purchaser owing you ₹2.5 lakh; your claim for the unpaid balance would generally be against the purchaser separately. However, if there are defects in the sale/mortgage or the bank's recovery procedure, the bank action can potentially be challenged before the appropriate forum. Do not ignore the notice or vacate without taking legal advice. I can review the documents and guide you on the immediate legal remedy to protect your possession and recover the outstanding amount.
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Advocate Riddhi Pratap Bothara

Adv. Riddhi Pratap Bothara

LawRato Pune | 5+ Answers
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Answer #2
657 votes
you need to file a case under Sarfaesi Act which state that you will be required to file an application for stop of auction sale under the bank recovery proceedings also you need to start a recovery proceedings against the person who has taken the loan as you are still in the possession of the house but you might have done agreement for sale on the basis of which he got the loan you need to get that cancelled by way of an order of Civil Court and in the mean time you can also ask Bank to stay the proceedings in the drt which is debt recovery Tribunal
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Advocate Moksh Jain

Adv. Moksh Jain

LawRatoMumbai | 100+ Answers
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Answer #3
706 votes
You’ll have to initiate a suite with the bank that is asking for payment because now they’re the rightful owners provided proper agreement and registration was done in the party’s name who owes you money.. If so then you may keep the possession and sell off the flat and enjoy the raised price of the flat
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Advocate Parth S Barot

Adv. Parth S Barot

LawRatoMumbai | 5+ Answers
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