Mortgage
ananthalaxmi
(Querist) 22 March 2012
This query is : Resolved
one person mortgaged his property in co operative bank. he was paid amount and released that mortgaged property 4years back. when he was paid, that bank officer did not gave any receipt to him but he gave a mortgage clearence certificate. now that bank given a notice to that person auction will be conducted on april 16 due to not paying that mortgaged amount. my question is how they conduct auction can i stop the auction by taking a stay order
ajay sethi
(Expert) 22 March 2012
i presume payment was made by cheque .
if your cheque has been realised and morgage clearance certifcate issued by bank it indicates no amount is due and payable .
if bank has issued notice to you regarding auction you have to immediatedly inform bank in writing that full payment is made and you should enclose the clerance certificate .
if auction is being conducted you have to immediatedly move court for stay . contact a local lawyer
Rajeev Kumar
(Expert) 22 March 2012
Mortage clearance certificate indicates that no amount due and payable. If the bank issued notice to you for the auction of said property then apply the bank for stopping the auction with a copy of clearence certificate. If they fails to stop auction then move to court for stay, contact a local lawyer.
Ghanshyam Prasad
(Expert) 22 March 2012
elease of deed itself is proof of payment.The bank cannot proceed for auction.
Ghanshyam Prasad
(Expert) 22 March 2012
release of deed itself is proof of payment.The bank cannot proceed for auction.
