Hi, my father has an self earned property and house was constructed on that property as he does'nt have any income while constructing hous as son I have given my income proof for getting loan and I am the main borrower for the loan and my father is gurantor. Land was in name of my father. Still I have loan outstanding for more than 2 lacs in bank. But now father wants to register the property in the name of a women ( second wife not yet married). I don't know what to do, because I don't want that property to be registered in the name of another women with whom we don't have any relationship. What is the solution for this ? Can I send a letter to the bank by stating not to handover the land & loan documents to my father without my authority ? because I am the main borrower and my father is gurantor ? please suggest me if any other solution available from yourside ?
As per Law The sole owner of property have right to sold the property ,you can not stop him from tranffering ,selling etc but you can file recovery suit for loan amount as per indian contract Act section 64 .I request to learned expert to share their veiws
As long asa the loan is outstanding the Bankwill not deliver the title deeds to your father. The question is the building belongs to you and the land is that of your father. The only way appers to be is to file a suit for recovery of the amount spent for construction of the building alson with all costs and interst,