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Can bank take possession of other property of the person taking loan?
30-Aug-2023 (In Recovery Law)
i purchased flat at kalyan , At rs. 43 lakhs, but society has not given noc because mr.... Has taken loan at thane flat from national co-op bank, but bank sent notice to society dont give noc because mr. Vija has not paid our loan at thane flat, but i purchase flat he has taken loan from karvy finance and he clear and give me original doccuments of kalyan flat, bot national bank sent notice to me for flat possession under mcs act 1960, what i will do for that...
Dear Querist,
the querry is ambiguous. Refine and retune for better understanding. Kindly ensure that necessary details are incorporated in the query. The banks cannot send you any recovery notice till you have no privity. However if there is a mortgage existing when you purchased the flat then bank will have a right to recover the flat subject to if same is lawful recovery
the querry is ambiguous. Refine and retune for better understanding. Kindly ensure that necessary details are incorporated in the query. The banks cannot send you any recovery notice till you have no privity. However if there is a mortgage existing when you purchased the flat then bank will have a right to recover the flat subject to if same is lawful recovery
Helpful?
12+
12+
Adv. Jitendra Ahuja
Mumbai | 100+ Answers
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Generally the Banks mortgage the same onwhich they grant loan to purchase. Now they can recover Thier money by way of auctioning the property mortgaged. So named to immediately jump in court against them seeking relief of injunction to protect your right against bank society and person from whome you have purchased the property.
Helpful?
17+
17+
Adv. Ujwal Phasate
Nagpur | 100+ Answers
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