stay on property
P K SAHOO
(Querist) 03 August 2015
This query is : Resolved
Dear team
The applicant has aviled a housing loan from bank and the bank has financed an amt of 30 lac for purchase the property. The lawyer has searched for 13 years and title is clear
But the previos landowner has filled an application in highcourt and highcourt stayed in property no further transcation. But the applicant has executed the saledeed with builder and bank not relased the loan amont cheque to builder and applicant due to legal issue. The applicant and builder has ready to give type of bond to relase the chque amt from bank. The applicant has paid rs 10 lac to builder and possesion in house.
Kindly clarify what step bank should be taken for relase the cheque to builder
.
Kappil Cchandna
(Expert) 03 August 2015
Sir,
I mean who is the previous owner and what claim he has in the property.
What is his locus standi in the court of law.
Warm Regards
Kapil Chandna Advocate
advocate.kapilc@gmail.com
+91-9899011450
Rajendra K Goyal
(Expert) 04 August 2015
Bank is under no obligation / not supposed / has no reason to release loan on a disputed property. You should arrange otherwise.
Dr J C Vashista
(Expert) 05 August 2015
You have stated "The applicant has availed a housing loan from bank loan and the bank has financed a sum of Rs. 30 lakh for purchase of property..."
What is the query when the bank has already advanced the loan? There is some missing link/information from the statement.
