Decree holder execution
Aamir
(Querist) 20 May 2016
This query is : Resolved
Hi i have proceeded with excution my case is that i bought a decree from bank which was mortagage by bank for not paying the mortgage. The party who has filed as a addition of party with a release degree was dated 14 nov 1885 but the overdraft amount was taken in october 1885 will the release deed still be valid to redem the property.
P. Venu
(Expert) 21 May 2016
The information provided is erroneous.
Aamir
(Querist) 21 May 2016
Ok let me try to explain in points:-
1) Rajasthan bank opened a current bank account of permeshwarlal for behala industrial.
2) In order to obtain an overdraft facility they kept there property with the bank in order to obtain a loan from the bank and made one of his friends as a guranter named nazma .
3) after taking a loan on 15th october 1885 parmeshwar lal made a release degree on 12th november same year.
My question is to you since he made a release degree after loan the guranter is claiming that he is the owner is the release deed valid we bought the decree from the bank and wanted to sell the property but the guranter is saying he is the party and he will pay the devreetal amount.
Is he a party?
Is the release degree valid?
Is it illegal to malensuch release degree
RAVI K GOUD
(Expert) 22 May 2016
Unable to understand what you are stating?
Rajendra K Goyal
(Expert) 22 May 2016
The query need to be redrafted.
Suppose loan was given by mortgaging the property, Loan defaulted, the guarantor of the loan has paid the amount to Bank. If such is the condition, on payment of loan, the guarantor enters into the shoes of the lender and he has first priority to recover paid amount from mortgaged property.
However, exact situation can not be assessed from your query.
Aamir
(Querist) 23 May 2016
I can share the dcrees with you for clearity the fact is i bought the decree from the bank and a third partuly claiming to be the owner as per release deed is always puting petition to redemm tge property. My question was is his release did valid after availing the loan. I mean to say the owner made a release deed after taking the loan
Aamir
(Querist) 23 May 2016
I can share the dcrees with you for clearity the fact is i bought the decree from the bank and a third partuly claiming to be the owner as per release deed is always puting petition to redemm tge property. My question was is his release did valid after availing the loan. I mean to say the owner made a release deed after taking the loan
Adv. Yogen Kakade
(Expert) 23 May 2016
consult a local lawyer with all relevant documents.
T. Kalaiselvan, Advocate
(Expert) 24 May 2016
Instead of repeatedly giving a misleading information while seeking an opinion, better produce relevant documents before a local advocate and get his opinion and advise on further steps in person.
