Loan on property by pervious owner
Querist :
Anonymous
(Querist) 07 August 2015
This query is : Resolved
I had purchased a property on 2007 from a person. And got it registered to my name in same year from the office of revenue department in which the person had mention that there is no loan or any outstanding against the property. But in 2015 i got a notice from SBI that the previous owner had taken loan against the property nd the bank declared it as npa . Now the bank repeatedly issuing notice to me for recovery of loan cost around 7 lakh.What should i do in this cas. Can i have to pay the loan??? or I should take a legal action against the person ??? how to deal with bank???
rajagopal.s
(Expert) 07 August 2015
Hi
you need to contact the bank and ask them on what grounds they are issuing notices to you .
2) It also appears that you need to revisit the entire sale transaction that happened in 2007 so that we can advise you properly.
Guest
(Expert) 07 August 2015
No one can initiate any action against an Anonymous as well as vice versa.
Querist :
Anonymous
(Querist) 07 August 2015
sir can bank have the authority to seal my property ???although the person who had taken the loan is still alive nd is not willing to pay back the loan.And also am i liable to pay back that loan???
Guest
(Expert) 07 August 2015
Where were the Original/Parent Documents at the Time of your Purchase.Have you Verified EC at the time Of Purchase.With all this better consult a Local Good Advocate.
Querist :
Anonymous
(Querist) 07 August 2015
No sir at the time of purchase we had not verified the documents. But in the registry the pervious owner had mentioned that there is no outstanding on property in written and counter signed by the revenue official.
Querist :
Anonymous
(Querist) 07 August 2015
No sir at the time of purchase we had not verified the documents. But in the registry the pervious owner had mentioned that there is no outstanding on property in written and counter signed by the revenue official.
Guest
(Expert) 07 August 2015
Have you got the Parent documents with you at least now have you gone thro EC.Have you got any Legal Guidance from any advocate at the time of Purchase.
Querist :
Anonymous
(Querist) 07 August 2015
Yes sir at present i have all orginal documents with me . No sir i had not got any legal guidance at te of purchase.
Guest
(Expert) 07 August 2015
What about your EC.what does it narrates at least for the Past 20 years.Reply with your Name
Guest
(Expert) 07 August 2015
Original documents in the sense Purchase documents and Parent documents of your Seller
Kumar Doab
(Expert) 07 August 2015
Don't post as anonymous.Write your name.
