Co-borrowers rights and responsibility

Querist : Anonymous (Querist) 17 April 2016 This query is : Resolved
Hello Sir
I am co-borrower for a home loan where primary borrower and third borrower exist.
Primary borrower pays the emi from his salary. The same three names are present on property. Second borrower i.e. me has not given any security to the bank. I was included on property and loan only to increase the loan eligibility of primary borrower.

My questions are as follows

1. In case primary and third borrower are unable to service the loan, can i file suite against them to sell the properties and pay bank?
2. Can i claim ownership rights of the property on the basis that my creditworthiness and financial status was used by primary and third borrower to increase their eligibility for the loan?
3. Can primary and third borrower file case against me to giveup my rights on property without considering my non monetory contribution mentioned above?
4. Do i need to make payments towards loan and create my interest in the property? Or by virtue of having my name on property i have owenership right?

Thanks
Anil

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Rajendra K Goyal (Expert) 17 April 2016
No reply to query from anonymous.

Kumar Doab (Expert) 17 April 2016
Anonymous and repeated query.
NO reply.

Sudhir Kumar, Advocate (Expert) 18 April 2016
1. In case primary and third borrower are unable to service the loan, can i file suite against them to sell the properties and pay bank?

VAGUE

NOT STATED WHAT ARE THE TERMS AND WHO IS (ARE) OWNERS.

Sudhir Kumar, Advocate (Expert) 18 April 2016

2. Can i claim ownership rights of the property on the basis that my creditworthiness and financial status was used by primary and third borrower to increase their eligibility for the loan?

WHY /YOUR INCOME IS ADDED RO RAISE LOAN AND TO WHAT EXTENT IT IS USED TO REPAY LOAN.

HAVE YOU ALLOWED AND COOPERATED TO BEFOOL THE BANK REGARDING YOU BEING A STAKE HOLDER OF THE PROPERTY WHILE YOU ARE NOT

ARE YOU JUST A GUARANTOR

IS THERE ANY DEFAULT

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