Buying mortage auctioned property
rajaram iyengar
(Querist) 05 February 2013
This query is : Resolved
A property bought through a bank auction (because of default in payment) is sold and it was occupied and registered for more than 5years.Now the original owner, who mortgaged has comeback and saying that,it is illegal to stay. Please clarify, whether he is having right to send legal notice on it.
Adv.R.P.Chugh
(Expert) 05 February 2013
The Purchaser at court-auction gets a good title, even if the decree is subsequently reversed. In case of any illegality and fraud in auction - the application to set aside has to be filed within a short period, and challenge after 5 years is hopelessly time barred.
ajay sethi
(Expert) 05 February 2013
claim appears to be barred by limitation
R.K Nanda
(Expert) 05 February 2013
time barred case.
Nadeem Qureshi
(Expert) 06 February 2013
Time barred case because The authorised officer should must keep in mind that it is the right of the borrower to file an application/petition in DRT within a period of 45 days from the date of possession of SA. therefore, a minimum gap of 45 days must be kept between the date of possession and sale.
the sale must take place only after the expiry of 30 days from thew date of publication in the newspaper, also after 45 days from the date of possession.
Sudhir Kumar, Advocate
(Expert) 09 February 2013
Let him file claim and you only have to defend continuing to stay in the property.
