Property attachment

jayakumar.j (Querist) 24 July 2019 This query is : Resolved
The bank has taken action for the attachment of a property which is not in the name of the loanee.It was alienated by settlement in the year 2012 whereas the bank has issued notice to the borrower for the attachment of the property in 2019. Is it legal?

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Adv Deepak Joshi +917017821512 (Expert) 24 July 2019
When was property mortgaged by bank?

Guest (Expert) 24 July 2019
Banks would certainly do that Contact me on 99674 76751/9444036927 If Required Please

kavksatyanarayana (Expert) 24 July 2019
Ji, Bank sanctioned the loan on the property. so on that property bank will attch. for other details contact the expert Mr. Rajkumar alias narasimha.

Dr J C Vashista (Expert) 25 July 2019
When the Banks sanctioned/ disbursed loan, it has verified encumbrance, if any. Since the property was free from any other claim at that time, Bank is well within its right to attach for default in repayment.
It would be advisable to consult a local prudent lawyer for proper appreciation of facts, guidance and proceeding.