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Narender Singh   06 December 2016

Can bank auction my mother's property

Hi,

I want to ask that my younger brother has taken the Loan Against Property from a PSU bank on the property which is in my mother's and father's name. The loan was taken without asking me where my mother and my father were the guranters of loan. Now as my brother fails to pay the loan, bank has issued the legal notice under section 13(2) and after that bank has taken the symbolic possession of the property. Now bank is asking the sell the property.

My question is that legaly i also have the 50% right on my mother's property ? How i can challenge the bank's notice ?

Regards



Learning

 1 Replies

Kumar Doab (FIN)     06 December 2016

It is bleived that you are Hindu.

If the property in the name of Father/Mother is self acquired then you have NO forced share in it.

 

Bank has lent its good money and has charge on the property.

The best recourse is to pay the debt.

 

 


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