Mother and wife righs
Querist :
Anonymous
(Querist) 10 March 2025
This query is : Resolved
Dear All,
My brother passed away 6 months back and his home was locked because nobody was staying there. Now after he's death the recovery agent is coming at home for EMI dues of 6 months. He's stating that , If u don't pay money now then bank will sell this property and u will not get anything.
Here my question is : Can bank sell the property in this serious condition or what our law says?
Can we wait for more months to pay EMI if we get money or they will auction the property in next month?
T. Kalaiselvan, Advocate
(Expert) 10 March 2025
The lender bank cannot bring the house property for auction sale without following the procedures of law.
You first ascertain the details, visit bank manager and negotiate the terms of settlement
kavksatyanarayana
(Expert) 10 March 2025
The bank that gave the loan cannot sell the property without following the due procedure. After following the due procedure, the bank will auction the property. So you shall consult the bank authority and request that they give you some time to pay the EMIs. If you do not repay the loan amount, the bank may auction the property.
Dr. J C Vashista
(Expert) 11 March 2025
Who has taken loan and whether there is any property mortgaged as security ?
Sudhir Kumar, Advocate
(Expert) 11 March 2025
As observed by Dr Vashsita, you have not clarified whether the house is mortgaged pr not
Presuming that the issue is with housing loan (correct me if I am wrong) you questions are relevant.
You are also absolutely silent as to whether any insurance policy was linked to the life of he borrower.
Can bank sell the property in this serious condition or what our law says?
CERTAINLY YES? IF THE HOUSE IS MORTGAGED.
THEY HAVE TO FOLLOW A PROCEDURE.
BANK ALSO HAS OPTION TO RECOVER FROM GUARANTOR AND IN CASE OF PROPERTY LOAN THEY FIND IT EASY TO AUCTION PROPERTY.
IN THE CASE THE SALE PROCEEDS AFTER AUCTION (WHICH IS MOSTLY LESS THAN LOAN+INEREST DUE) IF THERE IS EXCESS MONEY AFTER SATISFACTION OF LOAN THE SUCCESSORS CAN CLAIM.
IF STILL AFTER AUCTION THE PART OF LOAN REMAINS THEN SUCCESSORS/GUARANTOR CAN BE COMPELLED TO PAY.
CAN WE WAIT FOR MORE MONTHS TO PAY EMI IF WE GET MONEY OR THEY WILL AUCTION THE PROPERTY IN NEXT MONTH?
THE CAN IF THEY ARE MERCIFUL CAN DELAY THE START OF AUCTION PROCESS FOR FEW MONTHS.
AS ADVISED YOU HAVE TO CONTACT BANK
Further, you have to be absolutely clear that the dues are swelling each day after midnight as interest keeps adding.
P. Venu
(Expert) 14 March 2025
Yes, the query is short of material facts. Please disclose the particulars of the loan availed by the late brother.
