LawRato

Sale and Transfer of Equitable Mortgaged property with the bank.


10-Dec-2023 (In Recovery Law)
Dear Sir, I had a Equitable mortgage of my property with the bank, but the title deeds of the property was with me and the same was mortgaged with other bank after that and the later loan was cleared and sold the same property and his name has been assigned in the property documents.. so what will be the effect on the property sold.
Answers (1)

Answer #1
815 votes
Well, if you commit Default with the Bank, then, they will obviously come to attach Property mortgaged with them, however, since you have sold the Property to other person's name, Bank can lodge a Criminal Case against you under Sec 420 of the IPC.
Helpful? LawRato LawRato
Advocate Pankaj Bajaj

Adv. Pankaj Bajaj

LawRato Mumbai | 1000+ Answers
Chat with Advocate Pankaj Bajaj Chat 

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 Divorce Lawyers at lawrato.com to address the specific facts and details.

Report abuse?

Connect with top Recovery lawyers for your specific legal issue
Connect with a Lawyer
Comments by Users

No Comments! Be the first one to comment.

"lawrato.com has handpicked some of the best Legal Experts in the country to help you get practical Legal Advice & help."

All Answers

Googling your legal issue online?

The internet is not a lawyer and neither are you.
Talk to a real lawyer about your legal issue.

LawRato