mortgage
vijay
(Querist) 20 February 2010
This query is : Resolved
I (mortgagee)entered into simple mortgage deed in the year 1995 for an amount of 100000/-.There is no stipulated date for repayment.Possession is with mortgager only.On 1999 mortgager gave 70000/- by cheque.Upto this date mortgager telling their sad stories and not giving mortgage amount. Only last month I came to know that the mortgaged property already sold by the mortgager in the year 1998 itself. What is my remedy to get back my money.Can I go Civil as well as criminal?
B K Raghavendra Rao
(Expert) 20 February 2010
You can file a civil case for money recovery against the mortgagor. You cannot initiate criminal proceedings as this is a civil matter.
Raj Kumar Makkad
(Expert) 20 February 2010
You can initiate civil proceeding and can also get he sale-deed set aside in the given case.
Parveen Kr. Aggarwal
(Expert) 20 February 2010
You are competent to institute suit for recovery of the amount due under the contract of mortgage between you and the mortgagor.
As the mortgagor has mortgaged the property as security towards repayment of loan amount, your charge was created with a stipulation that the mortgagor shall not sell the property till your dues are not cleared. If you establish that his intention was fraudulent from the very beginning, then the mortgagor is also liable for commission of the offence of cheating.
Y V Vishweshwar Rao
(Expert) 21 February 2010
I agree with the Lrd Friedns and add that
The Suit is to be filed against the Mortgagor and his purchaser - all sales /trnasactions on Mortgaged Property are subject to Mortgage liability !
