Legal Question in Banking Law in
redemption of property by bank without consent of the debtor
Asked on 9/23/10, 5:44 am
1 Answer from Attorneys
Salman Khan
International Lawyer
The bank has the right to redeem property in case the mortgagee fails to pay back the loan amount. This clause is usually mentioned in the mortgage agreement. Just read the agreement again. However possession can never be taken forcefully unless the court grants.. FOr more consult me at [email protected]
Answered on 9/23/10, 6:17 am
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