Snatched property case
Danica
(Querist) 02 May 2013
This query is : Resolved
Hi Experts,
Request your expert advice on the below case :
Case : Many years ago my Dad's closest friend cheated my Dad by taking his signature's on my Dad's property papers (2 property in Gujarat).My Dad not well educated signed on the papers. These papers were my dad's property papers and were used to take a loan from a Bank in Gujarat. In short my Dad was fooled and made a gaurantor for the loan taken by his friend and the property was kept mortgaged against these loan. The loan amount is too huge and this man has bluffed many other people in the same manner to take the loan.
Now he is not in the position to repay the loan and the bank from which my dad's friend had taken the loan has removed these property for auction and my dad wants to buy this property back. But we are not financially strong enough to buy it back and I and my siblings think why should we pay to get our own property back.
So I request you experts to please show us the way out and the process that we should follow.
Appreciate a quick response and many thanks for the help in advance.
Raj Kumar Makkad
(Expert) 02 May 2013
Banker has within its right to make recovery of its outstanding debts out of the auction money. If you can purchase, become a party to the auction otherwise the action of the banker is lawful.
There may be many technical points in this matter. Better to engage a competent local lawyer to go through your case seriously and then to decide future course of action.
