Kshiteej Anokar (Advocate) 24 January 2011

subsequent mortgage what effect?

Dear friends,

Facts in brief

Facts in brief.

X is a Co-op society, Y is debtor. X got recovery certificate 101 of Maharashtra Co-op Society Act . X attached the mortgaged property and sold the same by executing registered sale deed to A. A reached to village panchayat for the mutation of his name in record of rights, where he found that the property was mortgaged to another society, the mortgage with X is first and with another society is second. The same is executed without taking no dues of X or search report towards the title from Y. What is the effect of 2^nd mortgage on the title of auction purchaser.

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3 Replies

sachin katariya (advocate) 25 January 2011

Whether the said property is earlier mortgage with X by way of registered mortgage ? whether charge is created of X over the revenue record ? it is also important queestions in regards to your query ? apart from that the secord charge holder can apply to x for the reamining amount if any in acution and the same can be credited and can go for the other dues

Kshiteej Anokar (Advocate) 25 January 2011

it is registered mortgage but charge is not created in revenue record

sachin katariya (advocate) 29 January 2011

AS per Maharashtra land revenue code section 154 if the docuements is a registered docuements than in that case it is the duty of the Talathi /revenue office to create charge of the registered docuemtns on revenue record.

if the x bank is ready for the criminal prosectution then it is best case or the FIR can directly registered aginst the bank as well as the original borrower and further the auction purchser can go for the with the help of bank for cancellation of mutation entry whihc is taken illegaly and bank can go for cancelltion of the subsequent mortgage.