narasimharao (a) 29 March 2014
Respected sir,
I have purchased sbi bank auction property, the property all ready mortgage with 3 more persons.
Now bank is going to do registration on my name.
Is there any legal problem to me.
Bank has no mortgage registration.
Bank management told that first mortgage with us only and ours is equity mortgage.
pleas give me suggestion.
Narasimharao
adv.raghavan (Advocate,9444674980) 29 March 2014
Of course you will have legal problems. What is the status of other mortgage deeds? is there any suit pending against the same property in any court? which you cannot ascertain, then what is the use in buying such properties and spending your valuable time in court premises.
Forget the lien, lien comes handy only when the property is auctioned and you will get your share on first cum first basis, apart from that i donot think any purposeful thing will be achieved from this transaction. You cannot enjoy the property fully, you cannot alienate, you cannot mortgage , and you will be carrying litigation all along..
adv.raghavan (Advocate,9444674980) 29 March 2014
Of course you will have legal problems. What is the status of other mortgage deeds? is there any suit pending against the same property in any court? which you cannot ascertain, then what is the use in buying such properties and spending your valuable time in court premises.
Forget the lien, lien comes handy only when the property is auctioned and you will get your share on first cum first basis, apart from that i donot think any purposeful thing will be achieved from this transaction. You cannot enjoy the property fully, you cannot alienate, you cannot mortgage , and you will be carrying litigation all along..
narasimharao (a) 29 March 2014
they approached to court and court given direction to deposit money in court. No suit pending against the same property.
sbi bank can't take any responsibility.
adv.raghavan (Advocate,9444674980) 29 March 2014
Give us full details of the case, this half information or doctored information will not be useful.
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