Bank's notice to acquire property - lessee's affliction
(Querist) 16 October 2021
This query is : Resolved
Hi, Hello, I request the legal opinion of the experts here on the following matter: I have taken a house on Lease basis . The Owner of the property has leased out all the three floors of the building and taken a bank loan (bank being a co-operative society) too against that property. The owner has not paid the principal nor the interest to the bank which has resulted in NPA. The owner has gone bankrupt and talks of his helplessness. The owner is a state government employee. Now the bank has issued us a notice to vacate the house within a week to acquire the same. Please suggest us the action plan as to how can we get back our deposit amount. Our woes are surmounting, pls help us with the legal opinion. awaiting for the response. Best regards
(Expert) 16 October 2021
When you have taken on lease, did you not observe that it is leased out to bank? file a case against the owner for a recovery suit by consulting a local lawyer.