Flat Sale

Mukund Chavan (Querist) 17 June 2010 This query is : Resolved
I had 1 flat in Pune, which I wanted to sell out. Last year, I had a deal with 1 person. It was decided that He will pay me a margine money and amount which is outstanding as home-loan on the said flat, will be paid directly to the bank. Agreement was registered with Registrar's office accordingly, clearely mentioning that the flat is mortgaged to another bank and the purchaser will clear that loan, against a new homeloan from his bank. Its been 1 year, due to some inadequate documents, his bank could not give him loan. Assuming the flat will be his, we had allowed him to stay there and keep paying the monthly EMI. From his side, he is not taking any efforts to close this deal and the loan is on my name. Can I take my bank's help to take any action on him? Could you pls guide me in this.

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Parthasarathi Loganathan (Expert) 17 June 2010
Please check out the inadequacy in the documents and ascertain the facts from the bank for non-release of loan amount.

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