Bank sale property registration

narasimharao (Querist) 29 March 2014 This query is : Resolved
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.

narasimharaoarza@yahoo.co.in

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Devajyoti Barman (Expert) 29 March 2014
If the auction is validly held , there should not be any problem.
In any case you must have already paid a reserve price.
Then complete the purchase.

narasimharao (Querist) 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.

Rajendra K Goyal (Expert) 29 March 2014
Without going through all the documents and case paper, nothing fruitful can be advised.

T. Kalaiselvan, Advocate (Expert) 31 March 2014
The papers in this regard are to be seen forgiving a proper opinion to your query, consult a lawyer locally who is conversant with the law of the subject, proceed as per his advise.

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