Fraud by selling mortgaged property
Rakesh
(Querist) 12 July 2015
This query is : Resolved
I purchased a property from in ghaziabad in the year 2011.
While executing sale deed in my favor it was clearly mentioned that property is free from home loan etc.
But the very next day, i came to know that property was mortgaged with bank.
That seller is paying the EMIs but not paying O/s in one shot.
Can i file complaint in court in police?
dr g balakrishnan
(Expert) 12 July 2015
ask his clear EMIs in one go and get you a bank clearance certificate and that way you need to give 2 or 3 weeks notice to your transferor, that is a precursor procedure, without that your going against the seller is bad in law.
Advocate Ravinder
(Expert) 12 July 2015
When you purchase a property through registered sale deed, while the property is in mortgage, you will not get the title over it. You will not become true owner.
If you want to solve the problem softly, do not file any complaint against the vendor. Instead of that pressurize him to pay the installments in one lumpsum and get a NOC from the Bank. Basing on the NOC, get a rectification deed of sale again by the vendor.
If the vendor does not head to your requests, you have file specific performance suit and also cheating and fraud cases against him. Naturally this will take a long time.
Satya nand aggarwal
(Expert) 13 July 2015
When you purchase a property through registered sale deed, while the property is in mortgage, you will not get the title over it. You will not become true owner. The only remedy left with you that is pay the amount to the bank and get a certificate from the bank ,that you have cleared the amount and then file a recovery suit against the vendor on the strength of certificate and also file criminal complaint against the vendor for cheating.
Rajendra K Goyal
(Expert) 13 July 2015
You should have cleared the Bank loan from sale amount paid by you to the purchaser.
Ask the seller to clear the Bank loan immediately. If he does not do so, clear the Bank loan through cheque from your account, get the clearance from the Bank, file case for recovery along with criminal complaint.
Anirudh
(Expert) 13 July 2015
The biggest mistake most of the buyers make is not to consult Lawyers before purchasing the property. They think by not consulting the lawyer they can save few thousands of rupees. But, ultimately land up in such messy situation which will definitely cost them more!
Even now, it is a pity, that you are not approaching any lawyer, but still looking for free consultation. Unless you approach the lawyer, show your papers, discuss things and take forward the matter - either criminal proceedings or civil proceedings - you will only be wasting your precious time.
I must also add that none of the suggestions given above will be of any practical help to you, rather they would further complicate the issue.
Advocate Ravinder
(Expert) 13 July 2015
I do not understand, how did you purchase the property without obtaining the original link document. Normally, the original link documents will be in the possession of the Bank. Pl. clarify this point.
Surender Kumar Sharma
(Expert) 14 July 2015
I too agree with the experts but you should not forget we all attached in this forum for giving free legal advice for work without selfishness policy
Surender Kumar Sharma
(Expert) 14 July 2015
It does not mean that we will give scope to cheating personal
