Mortgage fraud

Querist : Anonymous (Querist) 13 June 2011 This query is : Resolved
Please tell me what will be the position of a mortgage, if the same created with a forged title deed. In such cases, what will be the remedies available for the Mortgagee? In such cases, whether the Mortgagee can proceed under SARFAESI Act?

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PALNITKAR V.V. (Expert) 13 June 2011
Forged title deed means? do you want to say that the morgaged property belongs to others and not to the mortgagor? The morgagee will definitely take action under SARFAESI because it may not know that the deed is forged.If the real owner intervenes and raises objections, then the morgagee may not succeed in action under SARFAESI

prabhakar singh (Expert) 13 June 2011
DEAR! YOU LACK IN YOUR EXPRESSION,SO IF YOU ARE NOT A BANKER,PROVISIONS OF SARFAESI Act
ARE NEVER ATTRACTED AND CAN NOT BE INVOKED.
IF THE TITLE OF MORTGAGOR WITH RESPECT TO PROPERTY MORTGAGED WITH BANK IS BAD IN LAW THEN REAL OWNERS WILL NOT ALLOW THE BANK TO INVOKE THEIR RIGHT UNDER SARFAESI ACT,AS YOU NAMED IT FOR SHORT.

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