Purchase of property

Shiva Shankara R Shetty (Querist) 04 December 2015 This query is : Resolved
Mr. A owns one shop in commercial complex located at Koramangala, Bangalore for Rs. 12.5 lacs.

Subsequently, he borrowed Rs. 12.5 lacs from Mr. B by pledging the shop original sale deed.

Mr. A and Mr. B both are residents of Tirunelveli, Tamil Nadu.

Mr. A signed on Rs. 100 bond paper which executed in Tirunelveli, Tamil Nadu in respect of such pledge and signed by both the parties in front of 2 witnessess.

After that, Mr. A has not paid interest as well as principal both. Now, he is absconded without paying interest as well as principal both. Mr B don't know where is Mr. A.

Presently, Mr. B possess the shop and the shop given for rent and such rent collecting and enjoying by Mr. B. Now, Mr. B want sell such property.

As per the information provided to us, no power of attorney executed in the favour of Mr. B in respect of such shop.

Now, my question is that, can I buy such property?

Is any provision that, Mr. B transfer such property? Can I get valid title?

Is any other ways to solve the present problem?

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Ksreddyacs (Expert) 05 December 2015
Consult Local Advocate..

Dr J C Vashista (Expert) 06 December 2015
B is a mortgagor and not the title holder, he cannot sell it out. Donot buy it.
Consult a local prudent lawyer for proper analyses, guidance and advise.