LCI Learning

Share on Facebook

Share on Twitter

Share on LinkedIn

Share on Email

Share More

sankar Krishnamoorthy (Owner)     22 January 2014

Mortage

DEAR EXPERTS,
    I am  a registered money lender. I Have given a loan to a
party in the year 2002,by pledging his property and also registered
the document.Since the duration of the agreement is going to end (12
years) in the month of MAY 2014,  I  want to renew the pledge,by
writing a note on the (cellu vaipathu in TAMIL) back of the
document,and subsequently registering it.
   sir, I   want to know whether it is legally maintainable? Is there
any chance of a  foul play on the part of the borrower?  I also
sent him  a legal notice ,6 months back to settle his amount.He
assured me to repay my amount ,after his family partition suit ends
in court ,and sent me a letter  in his own hand writing and he is also
ready to renew the pledge.In what way i should renew the pledge sir ?
WHAT SHOULD I  DO NOW
SIR? IN WHAT WAY I SHOULD RECOVER  MY MONEY SIR?

 

THANKING ALL OF YOU SIR.




Learning

 5 Replies

R.K Nanda (Advocate)     22 January 2014

TAKE WRITTEN ACKNOWLEDGEMENT OF DUES.FROM HIM.

adv.raghavan (Advocate,9444674980)     23 January 2014

Before completion of mortgage period, if you are sure about the customer credibility, you can go for Extension of Mortgage deed with deposit of title deeds, and if  you are not convinced about his credit worthiness, file a suit for recovery of money now itself.

S K KARNjhc (Legal Adviser)     13 May 2014

Twelve years is enough for the recovery of money specially in mortgaged property, thou you have free will to go for either suit or renew as per credibility on mortgager, consult lawyer for further step. Do accordingly.

PearleneStocks   21 July 2020

This is more economical and as vibrant as gemstone. You provided the best college essay writing services more affordable and pleasure alternative that can truly determine its original value. This glance at once is attractive and will attract users.

Elvira   01 October 2020

great High Quality Dofollow backlinks Unique domains service


Leave a reply

Your are not logged in . Please login to post replies

Click here to Login / Register