Legal Question in Banking Law in India

Hi,

My father took loan on house in a co-operative bank in 2014. He did not paid amount. Today, Bank manager rang my mobile and explained current situation. I need to pay at least Rs 1Lakh by 25/3/2017, other notices will be released on each family number.

I asked my dad , to register entire house on my name and i will pay money. Is it possible at current situation. All original house documents are in bank custody.

I cannot believe him, either legally and illegally how many loans he generated. He is like a threat to us.

Please help me.

I am waiting for your reply.

Thanks & Regards,

Praveen


Asked on 3/22/17, 10:05 pm

1 Answer from Attorneys
Fca Prashant Chavan Expert Edge LLP

23.03.2017

Dear Praveen,

You should request your father to give an undertaking to the Bank stating that he is willing to transfer the house in your name and that if the Bank agrees, you should then repay and settle the loan taken by him on the house.

Regards,

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Answered on 3/23/17, 6:36 am


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