Dear Sir,
I have purchased a property in virar for Rs 26Lakhs in 2010. We had done a downpayment of 8 lakhs. and the balance by a housing loan . The downpayment was done by my mother in law and us and had made a gift deed for the same. The property is registered in my name as the housing loan was taken by me. After the possession of the property in April 2011 we were residing together for a month. But after that she has asked us to evacuate the flat. Until then we were paying the EMI but after we were asked to leave from there we have not payed any emi. She has defaulted the payment from last 4months and the bank is harassing us.
She is secretly planning to sell of the property by making some legal documents without our knowledge and get away with the cash after selling the property
I am not in a financial condition to repay the loan nor can i take another housing loan for 20yrs. due to which we are forced to stay in a rented apartment. Kindly let me know how should i proceed .
