sale of mortgaged property

bank has the first right over your mortgaged property and that unregistered deed will work as a proper and binding evidence.

 

Dear Manish Ji,

Thank you

I agreed with your ansfer, can you refer any supported case law to light on the decision.

it would very much helpful for me.

thank you again

Sunil

please clarify which type of claim is lodge by the bank.

Being unregistered deed bank claim is not valid and B acquire a good title over the property.

Dear Sir,

Bank is interested to excercise their lien in order to satisfy their loan by sale of morgaged property.

thanks

Sunil

 

Mr. Dhaiya, please be considered about opinion. an unregistered sale deed des not mean that you have lost your ownership since some other deed has been registered farudulently. several other factors are also consisdred while establishing good title over a property and unregistered sale , lease deed are admissible in the court of law as an evidence.

this is a mortgage done by depositing title to the mortgagee and bank has evry first right to get its debt cleared.

it would be better for you to satisfy the bnk's claim from the proceeds of the sale if you do not want to get into legal hassles.

The mortgage you must be one of deposit of title deeds. The mortgage deed need not be registered for this sort of mortgage. However, some of teh states have made it mandatory to register the memorandum of deposit of title deeds in order to indicate that there is an encumbrace over the subject property.

the Bank has first charge over the property in question, for non payment of said sum Bank can proceed to recover the dues in respect of the property

for citations refer Banking law journals 

Look Bank has claim on the property as the mortgage deed is executed
by A in favour of the Bank but the authenticity of the document and the
relevancy of the document can be disputed in the court of law because
unregistered document will have a less evidentiary value as per the
latest supreme court judgments.

However B who purchased the
property by way of scruitnizing the E.C. (encumbrance certificate) will
not be able to know about the existence of mortgage as it is an
unregistered document. Thus he is a bonafide purchaser and he has a
valid claim against the bank.

 

The possible solution is to repay the bank with less interest or to dispute the claim by way of mediation and negotiation.

 

Dear Padmapriya Sir,

Can you refer that suprime court decision cited that  unregistered document will have a less evidentiary value.

it would be great help for me.

thanks

Sunil

Dear Padmaprira,
I also need the SC Judgement as I differ from you.

 

1)      Lacchman Dass Vs. Ram Lal-(1989) 3 SCC 99: AIR 1989 SC 1923

         2) Hamada Ammal V. Avadiappa Pathar ( 1991) 1 SCC 715

 

1)      Lacchman Dass Vs. Ram Lal-(1989) 3 SCC 99: AIR 1989 SC 1923

       2) Hamada Ammal V. Avadiappa Pathar ( 1991) 1 SCC 715