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Can property be surrendered to bank to stop payment of EMIs
17-Jan-2023 (In Property Law)
Hi, I have a under construction property with Amrapali. Amrapali group is almost in verge of insolvent. My questions is can I surrender my property to bank to stop the bank EMI or is there any way to stop the bank emi. Do help.
File a securitization application before DRT along with application to RERA. Amrapali group is defrauding its customers and building luxury home in Lucknow on behest of honest buyer's money. An FIR against them will also suffice under 420 IPC
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Adv. Ashish Agarwal
Lucknow | 100+ Answers
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The property can not be surrendered. However you may write a letter of surrender to the bank (with whom you have entered into tripartite agreement and availed loan) and the builder (party to the tripartite agreement). After 15 days, whether a reply may come or not, you may file a complaint with the concerned Consumer court for relief.
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Adv. Siddharth Krishna Dwivedi
Ghaziabad | 25+ Answers
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First give me the details of bank from which you have taken home loan and as well as if you have any agreement with amrapali group provide the copy of requisite documents it can be settled and can be surrendered to the bank.
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Adv. Anupam Kumar Gupta
Varanasi | 100+ Answers
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