mortgage land
mukund reddy
(Querist) 17 June 2011
This query is : Resolved
I had given loan to one person. He has not paid the loan properly. Now I have filed a civil suit for attachment of his property, but he has informed court that he already had mortgaged the land to someone.
He submitted a Rs.100 stamp paper document signed by notary public in which the mortgage details can be found.
Now he says that the land can not be attached by me. Are those stamp paper document valid in law? Those document was not registered, but signed by notary public. Please suggest me.
PALNITKAR V.V.
(Expert) 17 June 2011
Mortgage coupled with possession has to be registered. Even otherwise it is not that it can not be attached. it can be attached after due to notice to the first mortgagee. At the most your's would be second charge. if he does not have any other property worth attachment, apply for arrest warrant.
prabhakar singh
(Expert) 17 June 2011
Mr.palnitkar v v is right in advise.however i wish to state that a notarized mortgage document is void in law,and you should object to that effect in court that in case that the document is insufficiently stamped and illegally created with collusion just to hamper your right and not be received in evidence in court and it should get impounded.
The other opinion expressed by Mr.palnitkar v v with regard to 2nd mortgage is correct as 2nd weapon in your hands.the third weapon suggested by him is also there ,but it does not yield too much as debtors in India when intentionally default,they do not worry for civil jail,additionally it all goes on your cost.
Shashikant V. Patil
(Expert) 17 June 2011
Our learned friends Mr Palnitkar VV and Prabhakar Singh are right to say it.
sanjeev murthy desai
(Expert) 17 June 2011
Dear Palnitkar sir and Prabhakar G, what about the provisions of the money lenders act.
