Banking

aakriti srivastava (Querist) 06 June 2012 This query is : Resolved
sir i wanted to inquire whether a bank can enter into a deed of conveyance? bank had already issued a sale certificate in respect of that property, but they were unable to get it registered past 2 years, and hence the auction purchaser entered into a deed of conveyance with the bank to get it registered, is that possible?

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J K Agrawal (Expert) 07 June 2012
Possible if the action of bank is under SARFACEI ACT.

In other case it is doubt that how the bank got ownership over property?

Ownership over mortgaged property is possible only by suit of foreclosure.

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