property
john k
(Querist) 06 April 2014
This query is : Resolved
Extremely sorry for the ignorance sir...! However i would be grateful for answering my query..here it is : Hi sir, i have a query. My father got a gift for being a prisoner of war during indo-pak war from govt. Back in the 80's my father morgaged the property to a relative for rs10000 without having to pay any interest and to be redeemed at any time. My father signed in a blank paper for POA and handed over to the relative only to take care of the property of which till date we never got a copy of it despite repeated requests. Now he is asking 1lakh for us to get back the property at present. Now that my father has passed away, he even claims that My father sold it to him ,He also says he sold it to someone else and even claiming to have all the necessary documents when all the time we the original docs. Your advice in details will be much valued and remembered.
Sincerely John
Devajyoti Barman
(Expert) 06 April 2014
Is there any mortgage deed executed? If no then take back the possession of property.
Otherwise you have to file civil suit for redemption of mortgage.
R.V.RAO
(Expert) 07 April 2014
even if your relative, calculates interest for 34 years,it will be very high amount to repay.
your relative may demand interest because ,there is no written agreement about the terms on which the money was lent to your father.
he may even create a document with the blank paper on which your dad has signed. so take a legal stand interest free loan was given.see that relative does not convert blank signed paper into a promissory note etc.
better you claim your property back immediately.
he will in all probability refuse to return the property without extracting his pound of flesh, in which case as LCI experts advised above,file civil suit for redemption of mortgage.
Rajendra K Goyal
(Expert) 07 April 2014
Try to have amicable solution. you are not having copy of POA or the document your father gave to that person.
If no amicable solution possible, consult a local lawyer.
Vidhi Joshi
(Expert) 07 April 2014
if your father had sold that property to him, tell him to produce documents in court. You need not worry if you have all original documents, send him on what basis had he calculated the amount of Rs. 1 lakh.
T. Kalaiselvan, Advocate
(Expert) 08 April 2014
I would suggest you to go for an amicable settlement with him, as someone told that if you calculate a normal interest @12%p.a. compounded for 34 years, your 10000/- will become almost more than 100000/- which he demanded, so better negotiate the amount and go for settlement.
