sale deed executed inspite of loan on property
Rakesh
(Querist) 06 September 2014
This query is : Resolved
3 years back i sold my flat in ghaziabad to one of my friend.
Rupees 9 lacs were outstanding to the Bank at that time, So i took 9 lacs less to total value of the flat. He said, He himself will pay it to bank.
Next Day of Sale Deed, we mutually signed an Agreement duly notarised in Delhi that my friend is aware of the loan and will himself pay it to bank and will never resale it before clearing off the loan.
But now 3 years later, he has started blackmailing me that to pay the loan otherwise will go to court.
Pl guide...
Devajyoti Barman
(Expert) 06 September 2014
Let me go to court. He will get nothing.
However the existence of loan should have been written in the deed of sale.
Rajendra K Goyal
(Expert) 06 September 2014
Agree with the expert that if the fact of loan was mentioned in the sale deed, you should not worry.
Kumar Doab
(Expert) 06 September 2014
You should have consulted a lawyer before entering into such deal.
Record all meetings (audio/visual) and keep evidence.
Document attested by Notary is not an decree from court of law.
The loan is unpaid and bank can proceed to claim....................
Approach your lawyer with all the evidence that you have and now onwards proceed under careful guidance of your lawyer.
ajay sethi
(Expert) 06 September 2014
dont bow to black mail tactics . refuse to pay loan as you have reduced sale price by Rs 9 lakhs from your friend
Hemant Agarwal
(Expert) 04 May 2015
1. "Rakesh" becomes liable for criminal prosecution (Cheating & Fraud) by the Bank, for selling the Flat, despite pendency of Loan.
2. The Bank can proceed under SARFAESIA act against "Rakesh" and auction off the Flat, THUS indirectly dispossessing the Flat from "Friend".
3. The so-called sale-agreement between "rakesh" and "Friend" is infructuous and invalid, due to pendency of Bank Loan, more so since the title is pledged with the Bank and Bank NOC was not obtained.
Keep Smiling .... Hemant Agarwal
READ ARTICLES ON: http://hemantagarwal21.blogspot.in/?view=sidebar
