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Husband taken loan against father-in-laws property, what to do


14-Dec-2023 (In Property Law)
My husband take loan of 40 lakh against my father property not repaying installment what i will do now please help me
Answers (1)

Answer #1
778 votes
First please understand that in order to take a loan against a property, it is important to create equatable mortgage upon the property, please tell me how mortgage was created by your husband upon the property of your father?. Did your father himself deposit the title deed in order to create the mortgage upon his property to secure the loan taken by your husband?. If the answers to my aforesaid queries are yes, than, in regards to the loan taken by your husband there is no way out legally than to liquidate the loan amount, if the answers are in negative, meaning thereby, your husband played a fraud and in deceitful manner took loan creating equitable mortgage upon the property of your father and now intentionally not paying the loan, then your recourse is open by filing a complaint case against your husband before a criminal court u/s 420 Indian Penal Code, I presume that in order to create mortgage your husband might have recourse to forgery also, in that case along with section 420, section 468 of the Indian Penal Code will also be attracted. However, I donot advice you to file a police complaint, as police may be reluctant in registering FIR against your husband.

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