quesSarfaesi Act

Party Mr. A took a loan from bank for business. Mr.A mortgaged properties to the bank. Mrs.A and Mr.B (son of Mr.A) also were co-borrowers. Business tanked and court attached properties that were mortgaged.

Two scenarios : (1) Mr.A had some properties that he did not mortgage to the Bank. Before being declared NPA, Mr.A transferred those properties to his Daughter Ms.C. Can bank attach these properties post declaration of NPA (2) Mrs.A (co-borrower) inherited a property from her father after. This was done while bank was trying to take over the properties. At that time, Mrs.A inherited a new property. She immediately transferred the property to her minor grandson. Can bank stake claim on this property?

  • ansSince Mr. A is no longer owner of the properties bank can't attach these properties. I presume all legal formalities were completed for transfer of properties and bank cannot claim properties transferred in name of minor grandson.

  • Apply For Legal Heir/Succession Certificate With Expert Lawyers
    Know More

    Click here to see all Property Legal Services
  • 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 book a Detailed Consultation with a Lawyer of your choice to address your query in detail.
Consult best Property lawyers in India

Similar questions

Iam woman aged 42, I married on 05/06/1995, my father died on 11/02/2005. My brother…
Sir, we have a ancestral property which was divided between my father and his brother,…

Hi I am based in Singapore. We hold a property in Ahmedabad (my wife is…

we had purchased a revenue site under BBMP limits in 6 years back from a…

Property Lawyers in India

Advocate Arjun Vinod Bobde

  Supreme Court of India
 Experience: 16 years

Advocate Prashant Mendiratta

  Lajpat Nagar 4
 Experience: 24 years

Advocate Prabhjit Jauhar

  Connaught Place
 Experience: 20 years

Advocate Mohammed Abdul Quadeer

  Shree Ram Nagar
 Experience: 11 years

View all >>

Quick Consult

Get 15 Minutes of Expert Legal Advice on Phone right now

Ask a Free Question

Post a Question online and get free advice from multiple lawyers by email

Find a Lawyer

Easily find and book private consults with top lawyers in India

Get Fee Estimate

Receive multiple quotations for your legal requirement instantly