Sale of mortgages property
Sekar
(Querist) 07 May 2018
This query is : Resolved
Hello Experts
One property was mortgaged in year 2000 without giving possession.
It's 18 years now and the amount borrowed was not returned nor claimed in any court.
Can the property be sold without getting it released from mortgage.
If such sale takes place will it be taken as civil or criminal offense
Ms.Usha Kapoor
(Expert) 08 May 2018
IF YOU SELL THE PROPERTY WITHOUT CLEARING MORTGAGE IT WILL BE BOTH CIVIL AND CRIMINAL OFFENSE(CHEATING AND FRAUD(criminal)) MISREPRESENTATION. ,SUPPRESSION OF MATERIAL FACTS KNOWINGLY)CIVIL.
Sekar
(Querist) 08 May 2018
Thank you so much.
Please do tell me now since 18 years is over can the lender start getting the property attached or auctioned as it's barred by limitation.
Asgher Mahdi
(Expert) 08 May 2018
You cant dispose off the mortgage property without releasing letter, though there is no case pending. It may lead to both civil & criminal actions. Since limitation period to file the mortgage suit /redemption remain pending you cannot sell.
Dr J C Vashista
(Expert) 09 May 2018
The mortgagor has retained title documents which are (necessarily) to be handed over to prospective buyer, where from and how would you give original document which shall prove you to be true and legal owner of the property under sale.
Redeem the mortgage before you plan to dispose.
