Property litigation
Sachin Jaiswal
(Querist) 25 January 2016
This query is : Resolved
Hey,
Would like to confirm, how to proceed further..
My friend has taken loan from private money lender and the condition kept by money lender was to do a sale deed of the property which my friend owned and if the money is returned within 11 months with interest then he will cancel the deed or else the property would be acquired by him. My friend agreed to the condition and proceeded due to urgent money requirement.
However, there is no agreement or clause mentioned in the deed, sale deed states that the money lender has purchased the property from my friend by paying complete amount.
Govt. Land value: Approx.: 50-60 lakhs
Loan taken: Rs: 20 lakhs
Amount mentioned in the sale deed: Rs: 35 lakhs
Amount paid in Cheque by Money lender: Rs: 35 lakhs
Immediately extra amount was refunded to money lender by Cheque: Rs: 15 lakhs
Now, 13 months have been completed however my friend couldn't repay the loan and money lender has acquired the property. He said the total amount payable is Rs: 35 lakhs with interest and have given enough time to repay however you couldn't hence, I have the take the possession.
Kindly suggest if there is any way out to regain the property or at least to get remaining value of the property as per Market rate.
Kumar Doab
(Expert) 25 January 2016
Until or unless you are able to prove the averments there seems to be no chance.
You have been taken for a ride by a shrude and cunning moneylender.
He has taken the possession on the day sale deed was signed.
Still, Has he stated in writing that: "He said the total amount payable is Rs: 35 lakhs with interest and have given enough time to repay however you couldn't hence, I have the take the possession.
"
You may approach a senior,smart and seasoned lawyer with whatsoever documents, WITNESSES,record that you have.
Rajendra K Goyal
(Expert) 25 January 2016
Case has little merit in favor of your friend, consult some senior lawyer and show him all the documents.
