Personal loan

satish (Querist) 11 November 2010 This query is : Resolved
My self and my mother jointly hold a house i have taken a personal loan (not given any security for that loan)

my query is that is bank people can tkae a attchment through court agaisnst jointly holding property or not whether my portion or my mother portion.

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Parveen Kr. Aggarwal (Expert) 11 November 2010
Even if a property is not mortgaged as security for repayment of loan, the same can still be subject to attachment by the court in execution of decree passed against its owner. Therefore, the share owned by you may be subject of such attachment.

s.subramanian (Expert) 12 November 2010
Yes.

Advocate. Arunagiri (Expert) 12 November 2010
I agree with Agarwal.

bhupender sharma (Expert) 12 November 2010
In worse condition, only to the extent of the share he hold.

Sri Vijayan.A (Expert) 12 November 2010
repeated question

Kumar Krishan Agarwal Advocate (Expert) 12 November 2010
Banks have their own Acts and Laws which grant them too much liberty and power to attach and sale property with accrued interest of delaying the full payment.

So it is better to sale the house today and buy new house somewhere if not then pay your dues as soon as you can arrange it otherwise this problem may be become worse problem for you.

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