property

M.Maheshwari (Querist) 16 January 2010 This query is : Resolved
i have given my house in security (Called JAMANET)in court in favor of my sister in Law .

Can I eligible to sales this property at present.

What are the consequences if i sell this property?

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R.R. KRISHNAA (Expert) 16 January 2010
Only with the permission of the court you can sell the property.

B K Raghavendra Rao (Expert) 16 January 2010

No you cannot sell the property. You have actually pledged it as a security with the Court.

However, if you want to sell the same, you have to offer security for equal amount either by way of cash or by way of another property acceptable to the court and then with the permission of the court, you may sell the property.

M.Maheshwari (Querist) 18 January 2010
Can I inter in to agreement of sale in the property with out court permission.

Or with in agreement I will give the possession to the property

B K Raghavendra Rao (Expert) 19 January 2010

You may enter into an agreement of sale but you are obliged to mention the fact that the property is offered as security to the court and sale of the property is subject to completion of the case.

Possession of the property may be given only for the purposes of renting it out and not otherwise.

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