Mortgaged property sold

Mr.B is having option only to obtain property papers by reliving mortgage from the Banker thrugh Mr.A. There must be understanding between Mr.A and Mr.B in writing the agreement. Banker action is right in this regard. So Mr.B must be allert to get the papers.

'Buyer Beware'.

B has grossly erred and was negligent.

B should have conducted due diligence in the matter.

Is it stated in sale deed that 'There is loan/mortgage on the prtoprtty being sold'?

B must atleast now show all docs on record to a very able counsel than proceeding on his own.

Mr. A did not disclose the mortgage details in the sale agreement. Mr. A declared that the property was not under any loan/mortgage.

Upon investigation, Mr. A was involved in some questionable fast money growth scheme in which he incurred a loss and which is why he sold this property and did not repay the loan to the bank. Mr. A has also received few Income tax notices. Therefore, recovering any amount from Mr A will not be easy. Which is why Mr. B does not see a quick solution from a litigation.

Mr B was also not informed by the society regarding the loan from the property.

These are liabilities of A.

B must atleast now show all docs on record to a very able counsel than proceeding on his own.