Property mortgaged with bank
My father purchased a property in Pune. After staying there for 6 years we came to know that the property is mortgaged with some bank. We have the original papers of the flat. The mortgage loan was taken by the husband of the first purchaser. We purchased the property from the second purchaser. What will happen to our property? What can the bank do?
Connect with top Property lawyers for your specific issue
Answers (1)
You must be having an original chain of title documents. Did you not do due diligence before purchase of property? Find out from the bank details of the mortgage. If the loan was taken by the husband of first purchaser and if he fails to repay the loan, the bank will seek to sell the property for recovery of its losses.
Googling your legal issue online?
The internet is not a lawyer and neither are you.
Talk to a real lawyer about your legal issue.
Popular Property Lawyers
Disclaimer: The above query and its response is NOT a legal opinion in any way whatsoever as this is based on the information shared by the person posting the query at LawRato.com and has been responded by one of the Property Lawyers at LawRato.com to address the specific facts and details. You may post your specific query based on your facts and details to get a response from one of the Lawyers at LawRato.com or contact a Lawyer of your choice to address your query in detail.
Connect with top Property lawyers for your specific issue
Related Questions
- Brought property but seller registered it in his wife's name
- Claiming property which is in by the deceased sister to her husband
- Daughter being forced by husband to ask share in father's property
- Husband trying to claim a share in sisters property after her death.
- Legal right of wife if husband selling off the only home (property)
- What are the consequences of NRI buying agricultural land in India
"LawRato.com has handpicked some of the best Legal Experts in the country to help you get practical Legal Advice & help."
Related Articles
- how to get building completetion & occupancy certificate
- Can a Gift Deed be challenged in India? - Property Gift Deed Rules
- Sons and Daughters Rights in Father's Property
- Illegal Possession of Immovable Property/Land
- Joint Ownership of Property
- Family Property Dispute Legal Solution
- Transfer of Property to Legal Heir after Death
- How to Resolve Land Dispute
- How to sell property in pagdi system
- Grandson's Right in Grandfather's Property
- Hakka Sod Patra in Maharashtra
- How to get succession certificate
- Property Document Verification in Bangalore
- Ancestral Property Partition and Family Rights
- How to send property partition legal notice?