Mr. A purchased a property by availing housing loan from a bank. After few years, Mr. A sold off the property to Mr. B without disclosing any details regarding the mortgage. Mr. A received the money and did not repay the loan to the bank. However, Mr. A continued to pay EMI for a year and then stopped. Mr. B demanding original documents from Mr. A but gave excuses. Now bank sent a notice for sealing the property. Society too did not inform Mr. B about the mortgage.
What are the options with Mr. B ? Mr. B does not want to lose the property and also cannot wait for 10-12 years of litigation. Mr. B wants to transfer the loan into his name, put the property on rent and then pay up the EMI. Can Mr. B do that?