Drt court decisions
(Querist) 01 March 2020
This query is : Resolved
Hi, I have sale my house property along with bank loan but margin money amount in mode of check by buyer but it got bounced and we have given time but no money was sent by the buyer.Buyer also didn't pay the installment amount to the bank and other third party had suited file in court on linking property that is the buyer had borrowed from third party.Then check bounces on margin I asked the borrower to cancel registration in the presence of sub/register and he did so.Now bank is unable to change the loan to my name because due its terms and conditions.I couldn't pay the installment in the name of buyer because this may lead to risk for property. In between ,bank took the permission for taking my position from DRT court basing section14 , sarfasei act.Even I petitioned that i will be so liable to the bank in case if bank would permit to pay installments in my name. so court ordered for status co within one week so what are my merits ?Can I recover my property buy paying amount to bank installments wise in my name?
I will be so happy if some one replies me because i did no mistake except believing the buyer as like bank did.
Raj Kumar Makkad
(Expert) 02 March 2020
As you have not got registered the sale-deed in the name of the said buyer so there is no change in the ownership. You are paying the loan amount of the proposed buyer so he has got legal right to retain his possession over the said property and now in the given facts, DRT should be prayed to release its possession, if any and should hand over its vacant possession to you.
(Expert) 02 March 2020
The facts, as posted, lack clarity. Please post simple facts.
T. Kalaiselvan, Advocate
(Expert) 20 March 2020
If DRT has stayed the proceedings for a week to facilitate you to repay the loan amount, then you may have to see the contents of the order.\If you have been permitted to repay the same in installments, then you can proceed or if there is no authorization to repay the loan in installments, perhaps you may have to repay the entire amount, however you still can bargain and negotiate with the bank on repayment terms to which the DRT may not object since the bank itself has agreed for the compromise settlement.