Legal Question in Banking Law in India

i had bought a house 2 years back.Firstly having the search certificate and all the original deed(Vendor and seller) with me.mutation,tax,electric bill named by me.

Now the problem is recently a person come to our house and told us how the house has been sold?As because they had taken a loan from SBI 8 Lacs.But at the time of selling(16lacs) they did not inform me nothing.Now we asked to the seller what is the matter?They now agree and told they had taken the loan against a shop(original deed) and xerox copy of house deed.Till now there is no legal notice we do not get.

So please suggest me what we will do?


Asked on 6/11/15, 9:46 pm

1 Answer from Attorneys
Fca Prashant Chavan Expert Edge LLP

12.06.2015

Dear Sir / Madam,

Since all the property documents are already registered in your name, it remains the duty of the seller who has been paid and settled the entire purchase consideration by you, to pay off and settle their outstanding loan to the Bank.

Regards,

Read more
Answered on 6/12/15, 3:53 am


Related Questions & Answers

More Banking Law questions and answers in India