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FightForCause (Businessman)     15 December 2014

Plz help...property auction

Hi Experts,

I am going through matrimonial issues and wife has filed false criminal cases. She has also filed divorce.

The house in question is a joint property with joint loan in name of my wife and myself(primary owner).

Wife has put her distant relatives in the house and was paying EMI since last 1 year. I had done a total downpayment of 17 lacs.

My wife contribution is just 2.3lacs till date and mine is 17.5 lacs.

Now bank calling and saying that if EMI are not paid they will auction the flat.

Loan is 28 lacs......

 

I cannot pay EMI of that flat as anyways this flat will be sold after divorce and presently her relatives are living in the flat.

What should be my next course of action...i am ok with the auction but fear how the remaining money will be distributed after loan deduction as flat will fetch atleast 60 lacs even in bank auction.

Can i make a application in civil court that after auction amount should be distributed according to actual contribution??

 

Kindly help.



Learning

 2 Replies

FightForCause (Businessman)     20 January 2015

Experts plz reply

adv.raghavan (Advocate,9444674980)     21 January 2015

IThe proceeds will be credited in account, held by you people jointly with the bank, after auctioning the property. It is better to get prepared for parting equal share. Any dispute or court intervention, over the proceeds ,will help  the bank only.


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