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Lender want to acquire the mortgaged land, please advise what to do ?
28-Jan-2023 (In Property Law)
Hello, I am hindu, from Assam. 20 years back my father has taken Rs 70000 from a Man without any written agreement and mortgaged our land papers. But now the man doesn't want his money back instead he wants our land. Though we want to pay his dues but he wants our land. Please suggest what we can do. Thanks in advance.
you can lodge an FIR. you should also inform this illegal act and encroachment, trespass to the concerned authorities of land in writing and keep all the correspondence so that you may prosecute them by filing civil criminal litigation before the court of law.
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Adv. Siddhant Sharma
Delhi | 500+ Answers
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Can a mortgagee sell the mortgaged property without the intervention of the court?
Right to sell without court intervention
Under certain conditions, the mortgagee can sell the property to the buyer without notifying the court. The mortgagee can sell the property without notifying the courts if certain conditions are met.
Can a mortgaged property be sold by the mortgagor?
In accordance with section 58(b), a simple mortgage is a mortgage where the mortgagor guarantees the mortgagee he will repay the loan and, in the event of default he must personally sell the mortgaged properties and repay the loan. 17 Dec 2020
Can mortgage property be transferred to another person?
After the mortgage is paid off, the individual can give the mortgage lien to anyone. The receiver must clear the dues for the property, which means that he will have to bear this additional burden once the mortgaged property has been gifted. The receiver will only be able to benefit from the mortgaged asset after clearing all dues.
Can a property be sold if it is mortgaged?
The seller can sell the mortgaged home with the outstanding loan at a reasonable price to the potential buyer. It is important that, before you decide to sell your property mortgaged, you make sure to keep up with your mortgage payments.
You are saying there is no mortgage deed. It is only a oral mortgage by delivery of property, which is permissible by law only if the mortgage money is below Rs.100/-. So you can file a suit for redemption of mortgage stating that the mortgage money was less than Rs. 100/ but you must also see that to what extent it will be believeable.
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Adv. Supratim Deb Purkayastha
Guwahati | 25+ Answers
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sale of mortgaged property by mortgagor to third party
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Can mortgagee sell mortgaged property without involving Court of law
Kindky apply for a certified copy of the sale deed from the office of the registrar and be in possession of the land and pay the revenues timely. If possible mutate the land in your name or any members of your family other than on whose the prooerty is registered.
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Adv. Safina Khatun
Tinsukia | 25+ Answers
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If there is no written proof of the debt owed by you/ your father or any written admission of such debt, then there is no need for you to even pay back the debt. If there is a mortgage in writing, then what was written as the loaned amount on the mortgage deed? Was it specified as Rs. 70,000/-? If the mortgage was based simply on an oral understanding, then such a mortgage may amount to an unconscionable contract and the man/ lender can only ask for his money back but may not be able to get the land in lieu thereof. You can give a notice for redemption of the pledge to the man, within a specified time frame, provided you are ready to formally acknowledge the existence of such debt in writing, if you have not done so already earlier.
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Adv. Navaneet Baruah
Guwahati | 25+ Answers
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