Title deposit without mortgage registration with registar
(Querist) 19 March 2023
This query is : Resolved
In 2020 my father in Law (Buyer) purchased a property a residential house in Repalle , Guntur District in Andhra Pradesh.
The seller sold this property to buyer stating that I lost the property document and i have filed FIR and registration done with Certified copy. In Encumbrance certificate also there was no mortgage in this property and it was clear.
One month back Tata Capital home financer Manger visited the property and claiming that this property belongs to Tata capital and seller has taken the loan in 2017 . When I ask the Financer to show the evidence of mortgage registration he denied to show.
Recently they came and attested the possession notice UNDER (securitization and reconstruction of financial assets and enforcement of security interest act 2002) Section 13(12).
Your suggestion/Advices to proceed
(Expert) 19 March 2023
you should rush to Debt Recovery Tribunal immediately without any further delay. You should file your petition under Section 17 (1) of SARFAESI Act immediately Interim Petition for Stay the Recovery proceedings.
Dr J C Vashista
(Expert) 20 March 2023
Professional services of a local prudent lawyer can solve your problem.
Advocate Bhartesh goyal
(Expert) 20 March 2023
Yes, you have to file appeal u/sec 17 of Sarfaesi Act alongwith stay petition before DRT against the said notice /order of DM.
(Expert) 21 March 2023
There appears contradiction in query.When there was no indication of encumbrance as per records, how the another one claims title over the same. Clarify this at registry. Nevethless, you need to get stay which is inevitable.
T. Kalaiselvan, Advocate
(Expert) 22 March 2023
You file a petition / application before DRT and first obtain a stay order stalling the proceedings initiated by the financier and then look for ways to solve the issue.
The seller has conveniently escaped the consequences by selling the mortgaged proeprty and now the buyer is suffering due to the fraudulent activity of the seller.
You ask him to repay the mortgage loan amount as demanded by the lender institution or else you can lodge a criminal complaint against the seller in this regard and proceed with further legal course of action in this regard