Dear sir
Myself & my uncle own a 2 acre plot jointly in salem TN. For agricultural loan purposes my uncle pledged the said property for a loan in a bank in Bangalore. where he has business current accounts. Since i was the joint owner of the property i also signed. Now he has defaulted the payments and not paying the loan. The bank is not able to find the property as it is in Salem tamilnadu. He moved his business current account to another bank in the meantime, so the old bank is not able to lock him for any payment. He without having the orginals of the pledged land is planning to transfer his share of the property to a third person. Is it legal?
