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Discussion > Civil Law > General Practice > Simple mortgage deed validity period   Unanswered Threads Post New Topic

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srinivas


shop owner
[ Scorecard : 62]
PRO CHAT CALL
Posted On 10 July 2012 at 07:22 Report Abuse

According to simple mortage deed, the mortgagor agreed to pay monthly interest and return the pricipal amount within 3 years.  Its almost two years and 11 months, but mortgagor didn't pay any monthly interest and pricipal amount. Can I file money recovery mortgage suit now or after 3 years (according the aggrement).?

Rajeev Kumar


Lawyer/Advocate
[ Scorecard : 7632]
PRO CHAT CALL
Posted On 10 July 2012 at 09:25

Yes as per as the agreement you can sue against him soon after the elaspe of three years. Before filing the suit send him a legal notice to mortgagor and after that procced.




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