Legal Question in Credit and Debt Law in India

hi good afternoon,one of my friend gave a loan to old lady som of Rs 5 lakhs on year 2000.she gave her property document but my friend did not registered it properly the lady has no legal heirs she is died on 2003.still the original papers are with my friend only.the property is in chennai,tamilnadu.what we do now?


Asked on 7/25/09, 5:21 am

1 Answer from Attorneys
Prabhat Shroff Shroff & Company

You can allege creation of equitable mortgage by deposit of title deeds; and claim redemption of such mortgage for settlement of your dues. However, such application can only be filed in the local court at Tamilnadu wheer the property is situated.

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Answered on 7/25/09, 5:45 am


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