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Krishnakumar Rama Iyer   13 September 2018

sarfeasi act enforcement for jointly held property

Good evening. Need clarification how Banks can proceed under sarfeasi act in property jointly held by 5 brothers and 2 sisters (after their parents death and partition not done) , when all the 5 brothers have availed housing loan in individual names against EMT of jointly held property and if one the 5 brothers defaults in repayment and when account becomes NPA. thanks n rgds


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 1 Replies

Adv Deepak Joshi +917017821512 (Advocate)     13 September 2018

Dear querist,


Partition of the above property will be done among all the legal heirs and then bank will proceed up to the share on the heir who has defaulted. If property cannot be Partitioned then charge will be created in said property.

 

Deepak Joshi & Associates

Djaa.legal@gmail.com

Mb/whatsapp +919456777600

 


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