Buyer's position who purchased house from guarantor to whom notice from bank has been received

pctulsian (Querist) 18 May 2014 This query is : Resolved
WHAT IS BUYER'S POSITION WHO PURCHASED HOUSE(NOT MORTGAGED AS PART OF GUARANTEE) FROM A GUARANTOR TO WHOM NOTICE OF RECOVERY FROM BANK HAS ALREADY BEEN SERVED IN RESPECT OF A DEBT DUE FROM A PRINCIPAL DEBTOR ?

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Devajyoti Barman (Expert) 18 May 2014
If it is so then it is not wise to buy such property till the debt is repaid by the principal or the guarantor.

Sankaranarayanan (Expert) 18 May 2014
Well said by friend Mr Barman ji

Rajendra K Goyal (Expert) 18 May 2014
If there is no charge / stay on the house, the execution / recovery proceedings have no concern on house, the same can be purchased after getting non encumbrance confirmation from your lawyer.