If Someone took loan against property withouty knowledge

Raman (Querist) 18 August 2016 This query is : Resolved
Hi,please help.
I purchased a property in july 2014 which is under loan about 16 years ago and from who i purchase the property had purcahsed the property on feb 2000 by the guy who gave the gurantee in same year and now the guy who took the loan is not paying the loan so the bank have sended the possession letter so tell me what should i do? Is there anyway to save my property from being mortagage as the owner who gave the guarantee is no more and its preplanned as even after the purchase of the property the bank enhances the principle amount without going throw any further inspection.

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Sudhir Kumar, Advocate (Expert) 18 August 2016
now clear about the date of loan on property.

Rajendra K Goyal (Expert) 18 August 2016
Loan is old enough, see whether it is time barred or not.

Whether the person who signed / guaranteed / mortgaged the property has given any revival letter?

All documents need to be referred, discuss with local lawyer.

Kumar Doab (Expert) 18 August 2016
'Buyer Beware' is applicable in property deals.

The property was under loan from bank and was sold to you.

Did you get original title deeds/sale deeds while buying the property.

Did you obtain proper legal opinion before buying?

You may ASAP engage a very able counsel specializing in property/banking/civil/such matters and show all docs on record and understand options, remedies, merits.

cherukuri prasad (Expert) 22 August 2016
the limitation for mortgage is 30 years and for adverse possession is 12 years. File suit for declaration of title and perpetual injunction if possession is not an issue. You should also move court against your Vendor. You can also move High Court through a Writ Petititon as I presume many remedies might got exhausted as of now.