vishesh kumar (private) 11 October 2010

JOINT HOUSING LOAN

Please intimate what is the legal position on the aforesaid matter.

1. A property (house) is in joint name (two brothers) and took joint housing loan. Thereafter, a written partition was made on the property (house). 1^st applicant is agreed to pay the loan 1/2 of the instalment. Whereas the 2^nd applicant is not paying the loan. The bank tried to deduct whole amount from the 1^st applicant only. Please advice, what action may be taken by the 1^st applicant to secure his portion in the house. The bank told that they will attach whole property.

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4 Replies

R.Ramachandran (Advocate) 11 October 2010

As far as the bank is concerned they have given the loan against the house property is mortgaged to the bank.

Whether the loan repayment is to be made in the ratio of 50:50 by the brothers, and whether there is any agreement between the brothers to this effect or not is not the concern of the bank. The bank is only interested in getting its EMI.

If EMI is not received by the bank, then the bank would first attach the property, in terms of the agreement entered into with it at the time of sanctioning of the Home Loan.

(Guest)

NANDKUMAR B.SAWANT.M.COM.LL.B.(MUMBAI),ADVOCATE

MOBILE.9271971251, 9960223100

e.mail.advocatesawantnb@yahoo.com

e.mail.nandkumarbs@sify.com

REGARDING THE HOUSING LOAN OF TWO BROTHERS KINDLY NOTE THAT.

1.YOU MAY FILE A WRIT PETITION TO THE HIGH COURT AND MENTION ALL FACTS AND MAKE BANK AND YOUR BROTHER AS RESPONDENT

2 NOTICE WILL BE ISSUED TO ALL RESPONDENTS AND SAY WILL BE CALLED.

3.IN CASE NO REPLY IS FILED BY THE BROTHER THEN THE COURT WILL PASS JUST AND PROPER ORDER AND YOU WILL GET SOME RELIEF DESIRED BY YOU.

IN CASE YOU NEED ANY FURTHER HELP KINDLY WRITE OR CALL OR SMS DETAILS WILL HELP YOU.

THANKS.

R.Ramachandran (Advocate) 11 October 2010

Dear Mr. Nandakumar,

There is a commercial contract between the two brothers and the bank - in regard to the Housing Loan. In the case of commercial contract, how writ petition to the High Court would lie? And that too against an individual (brother)?

KOMMADATH (n/a) 12 October 2010

Agree with Mr Ramachandran, bank recover the amount from the party they like to proceed, it is their choice. The agreeved party can file a suit against the other to recover the amount already recovered by the bank.