Legal Question in Real Estate Law in India

Hi, I am the garantor for my friends O.D current account, My property document is with his bankers, I have borrowed some amount from my friend for the document which i am not able to pay right now. So I like to sell my property. How can i sell my property which is mortaged in the bank with a OD current account. He is ready to release my document if i pay the amount i borrowed from him. Please help to solve this situvation


Asked on 7/03/13, 9:12 pm

1 Answer from Attorneys
Fca Prashant Chavan Expert Edge LLP

04.07.2013

Dear Sir / Madam,

I cannot see a way for you to sell your property when you have lodged the original property documents with your friend's bank for the purpose of his OD facility from his A/c in his bank. Here, your friend too cannot release your documents till he clears off and settles his entire OD in the bank. The way forward is for your friend to settle the bank and close the OD account.

Regards,

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Answered on 7/04/13, 12:55 am


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