right after remarriage
Debasis Patnaik
(Querist) 02 September 2010
This query is : Resolved
X has taken a loan from ABC Bank. His brother Y stood as a guaranteer and has given the papers of a land property. Y died in 2007. X could not repay the loan. The Bank tells X to arrange a customer for the land for sale. But the problem is Y was married and had a daughter who is now 4 yrs old. Y's wife has remarried and taken the daughter with her. She told she has got no interest in the property, but there is no document to prove it. A party is ready to purchase the said property, but is in doubt if Y's wife or daughter claim later, then there will be problem later. Do they have any right, if so, to what extent? What is the status in case of a mortgaged property?
Adv Archana Deshmukh
(Expert) 02 September 2010
Y's daughter is still his legal heir thought his wife might have remarried.
Devajyoti Barman
(Expert) 02 September 2010
If A purchases the property in auction and sale in enforcement of the unpaid secured debt then the daughter of y will have no right to challenge it later.
s.subramanian
(Expert) 02 September 2010
yes. For that the bank has to proceed under
Sarfaesi Act.
Debasis Patnaik
(Querist) 04 September 2010
Thanks to u all who have replied. But if the bank enters into a tripartite agreement (1. Bank, 2. The Lonee and 3. The purchaser of the land) and receives the money and releases the security, can the legal heir claim it later? Please note it is not an auction but a negotiated sale. After release of the land the mother who is a legal heir can sale it to the party. Is it possible? Pls. clarify.
