A P Assigned Land

The Assigned land  transfer / alienation  is  prohibited d under AP Assigned Lands ( Prohibition of Transfer ) Act 1977 . The Mortgage of the Assigned land  to banks is permitted under the Act, and the same is not prohibited. The Mortgage as permitted  under the Act is legal and there is no  illegality .  Accordingly the Mortgage is  is valid mortgage  ,  If the Mortgage money is not paid  the Bank is entitled  to sell the Mortgaged property with due process of law ., as the Mortgage in favour of the Ban is not illegal . The sale of the Mortgaged property- Assigned land by the Bank is not illegal and the purchase of the said Mortgaged - assigned land in Bank  sale /Auction sale is not  prohibited by the Act. The Permission to mortgage the land  to bank  includes the  permission to sell the land by the Bank   for recovery of its mortgages dues from the Borrower/ Mortgagor . For  purchase  of the Assigned Land in Bank  sale /Auction sales , the permission of  Govt / Revenue Authorities  is   not required . In any case the permission is sought the same can not be denied by the District Collector .

 

Published in Property Law
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