Legal Question in Real Estate Law in India

Property Dispute

We, have a purchased a property, a plot before 6 months, now we come to know that some one has taken a loan against that property from SBI Bank, now the bank is saying that he is going to sell my land for the recovery of its loan. How could i help myself. plz help


Asked on 7/07/07, 11:26 am

5 Answers from Attorneys

kavitha balakrishnan kpp associates

Re: Property Dispute

the bank will not issue a loan against any property without through verification of the documents relating to the property.

incidentally, the person who had sold you the property must have acquired the loan! find out from the bank who had actually taken the loan?

consult a lawyer and issue an legal notice to the Bank and the other person liable to pay the amounts due to the bank - and to the bank prohibiting it to attach the property!

in the mean time file a caveat petition in the court which has appropriate jurisdiction.

contact a lawyer in your locality with the relavent papers immediately.

or you can mail me the copy of the documents - we'll guide you further.AND fees are applicable.

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Answered on 7/07/07, 1:07 pm
Alok Sharma Alok Sharma & Associates

Re: Property Dispute

You are in real difficulty. You have not mentioned who is this someone and in what capacity he obtained loan. If he was owner and obtained loan as such a charge is there on the property and you purchased it with the charge. Bank is really on better footings. You need the services of good lawyer. Law is not that simple which could be elaborated in these coloumns.

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Answered on 7/07/07, 2:12 pm
RAJIV GUPTA (Cell: +91 9811284735) [email protected]

Re: Property Dispute

i cant understand how can you buy the property without the original sale deed or attorney. if the property had bank loan then am sure the bank must have kept the originals with herself. do elaborate all the facts before one gives you a good advice

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Answered on 7/09/07, 1:13 am
Shrichand Nahar S.V.Nahar, Advocate

Re: Property Dispute

Facts are not complete. It appears that land was mortgaged or charged with bank before you purchased it. How can some one take loan? If charge or mortgage of bank is proper, bank can surely attach and sale the land.

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Answered on 7/09/07, 1:46 am

Re: Property Dispute

Details are missing.documents are required to be examined and a personal meeting is necessary to understand the problem in detail and to suggest any advise on subject matter.Contact with details and documents.

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Answered on 7/07/07, 11:40 pm


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