Fraud in sale deed without mentioning bank loans inspite of mortgage
28-Jan-2023 (In Property Law)
Person A B C D own a property. It's a single piece property with each one having it's name in the 7/12 extracts. Person A mortgages his owned land with a Bank, borrows a huge amount of loan in 2017. The registered 7/12 extracts when printed online from sub registrars office in August 2020 shows no loan on the papers. The same papers when printed again in November 2020 show a loan on the, 7/12 extracts. Person A has an excellent relationship with the Chairman of the bank. Now Person A along with owners B C & D sells the property to a X customer, the sale deed is registered in the name of X.
"The sale deed says there is no charge of the bank whatsoever and the property is free and in the name of A. Where as the 7/12 extracts clearly mention a huge loan taken from the bank in 2017".
Was there any notice issued in the papers about the said property?? If yes why did the bank & it's chairman didn't create an objection on the sale of the property??
if the fraudulent Lee mentioned that actually there is a loan and they sell to you then you can go for the court for compensation only because if any income at the time when the sale deed is executed then the court is only remedy approach appropriate Court to cancel this the mode
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