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Queries Participated

narasimharao   26 April 2014 at 15:19

Bank sale property

I have purchased a SBI bank action property. SBI bank was given 600000 Rs lone/due on that property as on date. Anther three persons are given mortgage lone around 1500000Rs/- and some out side dues on the owner of that property. And that persons are approached to court. I have purchased the same property 2850000Rs/- in the action conducted by SBI, they deducted their due amount and reaming amount was handed over to court.

SBI authorized officer was register the same property on my name and committing in registration document " The sale of schedule property was made free from all encumbrance known to the secured creditor ".

But till date in EC certificate the mortgage due is live. And i am going to sale the same property the EC becoming main problem to me. Place suggest me how to clarify the same.

Thanking yor sir

narasimharao   29 March 2014 at 15:40

Bank sale property registration

Respected sir,

I have purchased sbi bank auction property, the property all ready mortgage with 3 more persons.
Now bank is going to do registration on my name.
Is there any legal problem to me.
Bank has no mortgage registration.
Bank management told that first mortgage with us only and ours is equity mortgage.
pleas give me suggestion.

narasimharaoarza@yahoo.co.in