Bhaskar (Manager) 09 July 2012
Mr.A has borrowed money by pledging his property documents from Mr.B. with out creating any documentation for borrowing , after borrowing money Mr.A has sold the property to Mr.C by obtaining a certified copy from subregitrars office, without settling the dues to Mr.B. Whether Mr.B has any right on the property sold by A. after registering it to Mr.C
Adv.R.P.Chugh (Advocate/Legal Consultant (rpchughadvocatesupremecourt@hotmail.com)) 09 July 2012
Yes B definately has a subsisting interest on the property to the extent of the loan advanced, the transaction with him was a mortgage by deposit of title deeds, this transaction is not required to be in writing hence the subsequent sale deed won't negative his rights, and being a prior transfer of interest B's interest would have a priority over C's
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