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Johnson (Employee)     26 June 2011

Loan recovery

Respected Sirs,

 

before 12 yrs my father helped his friend by giving his land document as a third party collatral security in a bank.

his friend failed to repay the loan that he had borrowed from the bank.

my father had paid the money in the bank and has taken back the document from the bank.

 

My fathers friend had received a property by WILL.and he has agreed to sell the property to my father at a fixed rate.

now he says that he does not have any right to sell the property.The property that he has received has 4 parts in which 2 part belongs to 2 mentally retarded persons for whom he is the guardian and 1 part belongs to a person who is missing for 10 yrs.

 

now the concern is how to recover our loan that was lended to him as a collateral security

 

kindly please help us to recover our funds.

Thank you



Learning

 2 Replies

jeetendra patel (lawyer)     26 June 2011

what is written in the will is very very important.you are not clear about it. even if one portion out of four portion is bequeathed to your fathers friend then still he can sell that portion (undivided )to your father.

J.P.PATEL ADVOCATE PUNE (9921158871)

bhagwat patil (Property due diligence 9422773303)     27 June 2011

your father has every right to recover the amount from him.you may ask cash or equivalent property.


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