Sale of property given as security to the court
s.vinodhbabu@gmail.com
(Querist) 30 July 2013
This query is : Resolved
there was a suit between A and B. the suit disposed, both A an B not satisfied move an appeal. for granting stay of the clauses of the impugned judgment the appeallet court ask A to furnish security. A executes a security bond with regard to his immovable properties in favor of high court. A died. the legal heirs of A decide to sell the properties and substitute the security as amount. what is the procedure for sale of property given as security to the court.
Nadeem Qureshi
(Expert) 30 July 2013
File an application for change the security before the court and after permission of the court the property may be sale, otherwise the court have right to recover the security amount from LR
s.vinodhbabu@gmail.com
(Querist) 30 July 2013
Thank you Mr.Nadeem for sharing your valuable time for clarifying my query.
After A death should his LRs be impleaded in the respective appeal in which the properties were given as security?. And then the LR may move a petition seeking the permission of the court to sell the properties?. In such instance who should execute the sale deeds?. whether the LR in their individual capacity execute the sale deeds?,Of course with the permission of the court. or will the court itself execute the sale deeds? in such instance should consent of the LRs required?.
once again thank you.
s.vinodhbabu@gmail.com
(Querist) 30 July 2013
Thank you Mr.Nadeem for sharing your valuable time for clarifying my query.
----continuation of my query-----
After A death should his LRs be impleaded in the respective appeal in which the properties were given as security?. And then the LR may move a petition seeking the permission of the court to sell the properties?. In such instance who should execute the sale deeds?. whether the LR in their individual capacity execute the sale deeds?,Of course with the permission of the court. or will the court itself execute the sale deeds? in such instance should consent of the LRs required?.
once again thank you.
ajay sethi
(Expert) 31 July 2013
yes legal heirs have to be impleaded .
then LR can make application for change in security furnished .
court will not execute any sale deeds . property has to be trnasferred in name of the legal heirs .
