Auction Purchaser

Querist : Anonymous (Querist) 04 April 2010 This query is : Resolved
please send the information regarding auction purchaser purchsed the property through Court Auction. And the same the property has been mortgaged in a bank.

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Parthasarathi Loganathan (Expert) 04 April 2010
Once any property is sold through Auction, Bank will now spell out the loan outstanding details and other charges payable by the debtor leading to release of title deeds and registration in favour of the buyer.

bhagwat patil (Expert) 04 April 2010
the property sold in auction by court it is free from all encumbernances.

niranjan (Expert) 05 April 2010
You mean to say that the property which is sold by the court was already mortgaged with the bak?

Uma parameswaran (Expert) 06 April 2010
The person who is having the first charge over the property shall get the property.

Adv.Shine Thomas (Expert) 09 April 2010
I agree with the above views.

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