What if property given to someone else for collateral be claimed
09-Jul-2023 (In Property Law)
Hello my parents have let their friend use our flat as a collateral for his business needs . Now we have asked the person several times to remove the property from the bank as collateral as we are required to sell the property due to family needs . However the person still haven’t responded. Kindly suggest any legal help we can pursue towards the concerned party and bank regarding this. Thank you for advice
sir
you issue the legal notice to the bank stating that you want to withdraw your property from the collateral, so that bank can issue notice to him to pr ovoid another collateral to him . if not you can file suit in court on your father friend and on bank.
you issue the legal notice to the bank stating that you want to withdraw your property from the collateral, so that bank can issue notice to him to pr ovoid another collateral to him . if not you can file suit in court on your father friend and on bank.
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