bank torturing
PRAMUKTA TARAFDAR
(Querist) 11 January 2011
This query is : Resolved
CASE STUDY
Dear sir,
I have an important case to present in front of you..
That a person burrowed a sum of some amount as, Loan no -1, ( House building loan)from a bank,.by mortgaging his house registered in his nameThis loan was subsequently paid by the co borrower, - his wife and the account was kept standard after the death of the burrower.
Now the deceased man’s had 2 sons and his wife as legal hire. The man then had made a will where he had wished his wife as the sole beneficiary of all the land and house and his assets.
The youngest son had taken loan from the same bank without any co lateral or mortgage while his father was alive. The father or mother did not stand as a guarantor or burrower to this loan. The loan was taken to start a small scale industry which was covered under an insured coverage of cental govt ( C.T.G.S.M.E) where one time & the annual insurance fees was regularly paid.
Subsequently the second loan taken by the younger son went bad and was sent to the DRTA .Now the second son kept no contact with the family since last three years before the death of his father.
The Bank was quiet these years and never wrote to the father , mother or any one about the son’s loan from the date of its sanction or its failure.
Now after 3 years after coming to know that suddenly the father has died they are assuming. to take the mortgaged property for loan no -1 keeping into view that the younger son is the legal hire to his father’s property though for this loan the father never had mortgaged the house nor an extension of mortgage was done or the father stood as a guarantor for the loan no -2 during his life time.
Can the bank take the undivided property to recover the dues of the second loan though it was not mortgaged for loan no 2. please help me.
Pramukta Tarafdar
Rourkela
Mob: 9776562201, 9778997890
Surekha Jagdish Dabi
(Expert) 11 January 2011
gd morn i have gone through ur case to my knowledge as according to will ur the sole owner so no one else can claim right in ur property not even ur son.Now what u can do is to inform the bank about ur sole ownership on the property and after that if time require u may approach to DRTA court by filing application and ur ownership proof,regards
malipeddi jaggarao
(Expert) 11 January 2011
As I understand from your narration, father took housing loan in the joint names of himself and his wife. The liability is not totally clearly at the time of death of the father. Father bequeathed the property by way of will in favour of his wife.
Thus the wife becomes absolute owner of this property.
Whatever borrowings the sons have with the Bank, this property was not given as security by way of mortgage. Parents are not even stood as guarantors.
Unless the mother join as guarantor for the borrowings of the sons, this property which is inherited by her by the will of the husband can not be touched by bankers. Though sons are legal heirs to their father, they do not have rights on this property. Since owner of the property is the mother as per the will, this property can not be even attached against the liabilities of the sons. But the mother has the duty to repay the housing loan of the father, or else bank can take steps exercising its mortgage rights only in the housing loan of the father.
However, Banks do try to get the bad acocunts closed by leashing threats. The actual legal position will be looked into only at the time of taking decision for legal action in the bad accounts. Legally bank can not do anything as far this property is concerned, except if the housing loan borrowed by the father becomes bad. Your mother can explain the factual position to the Bankers. He has the right to get back the documents once the housing loan of her husband is cleared.
Y V Vishweshwar Rao
(Expert) 11 January 2011
After going through the query I agree with the opinion of Mr Malipeddi J Rao
Uma parameswaran
(Expert) 11 January 2011
Mother can send a notice to bank. If the Auction proceedings are taken through DRT then mother can approach High Court for getting stay the proceedings.
