Property dispute
AmolDeepSingh
(Querist) 25 July 2013
This query is : Resolved
Hi,
There was a property in my mother's name in Bangalore. Unknowingly she signed a GPA in favour of her brother as he also had bought the adjacent property. In June '2000, we had taken a loan from bank against that property without knowing that he had already trnsferred this property to her wifes name. The transfer did not take place in her wife;s name when we went to check with bank officials because of difference in stamp duty . When we came to know of this GPA, we immediately revoked it. As we were in financial stress, we did not follow and fight this matter. In 2010, the bank got awarded this property in decree but again my mothers brothers wife filed for stay and reconsidering the decision. The matter is still under litigation.
What can be the outcome of this case as bank is trying to show in the court that we have joined hands, which is not the case.
Is there a chance of we getting back the property or the excess proceeds if the bank gets the property
What should be our line of action in this case as we just came to know of these developments very recently
ajay sethi
(Expert) 25 July 2013
your story sounds too good to be true . when bank grants loan against the property all original documents are taken by the bank in its possession . you mean to say bank sanctioned loan without even verifying the title deeds? diligent search is taken by the bank and then only loan is sanctioned .
was GPA executed by your mother registered ? please clarify
adv. rajeev ( rajoo )
(Expert) 25 July 2013
How your mother got that property? Had she any independent income? Clarify it.
Raj Kumar Makkad
(Expert) 27 July 2013
You should try for the decree for the bank in that case so that you may get excess proceeds after recovery of bank dues.
