Mortgage of property exceeded more than 30 years
davidjeyaraj
(Querist) 12 June 2015
This query is : Resolved
A have mortgaged his agricultural property which he bought. the amount of mortgage is for 10,000 rupees , through SRO with valid documents ,
Now 30 years completed , till date no repayment has been made by the mortgagor ,
how to recover the money, is there any law to get my money , or mortgagor looses his title , kindly reply
Dr J C Vashista
(Expert) 13 June 2015
Incomplete information and academic query.
What are the terms and conditions of the mortgage deed? Is there any time frame for the mortgager to refund the money due? What else covenanted, if the mortgager failed to refund the amount due? What type of mortgage is there? Whether the mortgager is holding possession of the property?
Show the document to a local lawyer for proper opinion, advise and proceeding in a professional manner.
davidjeyaraj
(Querist) 16 June 2015
Mortgage for 10,000 rupees
Item is agricultural plus residential land of 2 acres
Land and still is in possessions of mortgagor.
Calendar wise 30 years completed.
Mortgage deal was registered with sufficient stamped document with sub registrar office.
Document was registered with 12% interest for Initial period of 3 years.
Subsequently mortgagor did not return any money .
Which code is applicable to recover my due.
Please advise if any clarification are required,
Land is in Tamil Nadu jurisdiction.
