Cancellation of sale deed vs. bank loan
Kmedu
(Querist) 14 July 2016
This query is : Resolved
Dear Experts,
“A” having two sons and two daughters and he is also owning a house property which was purchased out of the family joint nucleus funds. Thereafter suddenly the said “A” had sold away the said house property to the one of his son by ignoring his other sons and daughters and also not consulting with others. The son who purchased the said house property had immediately mortgaged the same with a Bank and obtained a loan.
Now whether the other sons and daughters can file a suit for cancellation of sale deed since the said house property was purchased by their father out of family joint nucleus funds.
Under this circumstances what about the position of Bank which sanctioned a mortgaged loan?
Kindly advise me.
Kumar Doab
(Expert) 14 July 2016
Do you have evidence that the said property is not self earned/acquired!
Devajyoti Barman
(Expert) 15 July 2016
If it is HUF then the other son and daughter cna surely seek partition, declaration of said deed as null and void an share in it.
Rajendra K Goyal
(Expert) 15 July 2016
If the property was in the name of father and was not HUF property, father had right to transfer / sell / gift / mortgage it, other son have no claim in the property.
