I am in big trouble. My father has sold our property to one of his good friend. On good relationship my father has transferred property on his name with around 25 lakhs rupees pending which he had agreed to pay in short period of time.
Due to heavy financial crisis he is still not able to pay the pending amount after 9 years. we recently came to know that he had taken loan from bank against this property and now bank has sold this property to someone else.
We are having possession of this property till date. But now bank and new buyer are asking us to evacuate this building. We are having our business aswell as house in same building.
Also my father has taken in written from him on stamp paper (notarised) that he has to pay us remaining money till the time custody will be in our hand. Also we have taken signed rent receipts from him for past 9 years as proof that we are staying there as tenant and paying him regular rent.
Is there a way by which we can claim our right on property till our outstanding amount we receive?