Three men were partners in a partnership firm. In the year 2011, he took a loan on his firm and a property 150 square yards was mortgaged with the bank as security. The owner of this property was their mother. In the year 2017, the property was distributed equally to both the partners by gift deed of 75 sqaure yards by their mother and the third partner was excluded. In the year 2017, both the partners registered the transfer in their name with the Patwari. After that, after the death of their mother in 2019, both of them stopped giving loans. The bank is now auctioning this property as per the SARFAESI Act . In each notice of the bank, the property is 150 square yards and the possession given to the bank by the tehsildar is also in the notice of 150 square yards.
I want to purchase this property in the auction and after I took the Fard from the Patwari for the last 30 years, it is found that the Patwari is showing the bank loan in Fard only for 75 sqaure yards after registering the transfer of both the parnter and saying. As much as the bank will give me information about the loan, I will tell you about the loan of 75 square yards. We will give you the registration of 150 square yards after your death with the bank. But Patwari is showing 75 square yards in Fard.
I want this information from you whether it is right to buy the property in auction from the bank or not. In the bank documents, the property is 150 sqaue yards in the mother's name and she is ready to get the registration done, but the bank loan is showing 75 square yards in the patwari fard. 1. Whether the bank is protecting the property of a one partner in any wrong way. 2. Whether both the partners have taken any permission from the gift deed time bank. 3. Can the mortgage property be transferred to a family member?
If I purchase a property, what should I be aware of?
