tractor loan recovery

Querist : Anonymous (Querist) 17 December 2010 This query is : Resolved
sir my friend z a tribe in year 2004 brokers took her mother to the bank and got tractor financed she was illitrate n my friend was minor and his father is alcoholic now after five years bank has come to recover loan then it came to notice of my friend now her mother has expired n he and his 12 year old brother hold the land title can bank auction his only source of living

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Devajyoti Barman (Expert) 17 December 2010
Yes if the loan trasaction was properly executed and the loan disbursed was also used by the borrower then the property mortaged can be attached and sold. Thier penury is no defence.