Memorandum of deposit of title deeds


Hi Sir , In the year 1990 my parents have given a amoun tof 5000/- Rs to his friend in turn they have done a memorandum of deposit of title deeds agrrement and in that agreement they have agrred to pay certain percentage of interest as blank (perncetage not mentioned in the agreement) ,  along with Sale deed original , Link document as EC he has given to my parents , And he didnt turned up till date to repay the amount .

Now today after 20 years as the land rates have increased he is coming back and saying to give back the documents and will repay the amount with some amount .

I am not sure how should i proceed legally on this as he is coming back after 20 years just because the land price has increased .

Here the (memorandum of deposit of title deeds agrrement) was not registered with the registrar as it was in 1990 , They have agreed on a above said agreement by giving the original documents .

Can you please guide how legally we can take up this issue .

 

 
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Mortgage by deposit of title deeds doesn't needs registration. If no time is prescribed then u have to accept 12%or more interest from that's date and to hand over the documents and possession to mortgagor
 
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U file declaratory suit in court winning chances 50:50
 
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Hi , Today i came to know that my parents and the 3rd party has also done the GPA on my mother name ( but here the GPA is not regisreted done in 1990) .

Do we as a GPA name holder do we have the rights to sale the property as the third party is coming back and asking for the documents and claming that these documents are of no use to us it better if we take some amount and give back the documents .

 
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