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Nilesh Ghadi (Service)     29 May 2016

Property in dispute

I have purchased one commercial shop in Mumbai. The total sale deed was finalized and registered for 1 Crore 20 Lakhs Rupees and Stamp duty is also paid on it. I have taken loan for purchasing the above said property from Dewan Finance. I therfore approach Diwan Housing finance and inform them about the abovesaid property is mortgage with UCO bank. Dewan Finance taken out a search and approach UCO bank and as per the as their correspondence with UCO bank the UCO bank requested to release of Rs. 72,00,0000/- to release their lien on above said property and Dewan Finance paid/issue a cheque of Rs. 72,00,000/- in favour of UCO bank. However, UCO refuse to remove the lien on the said property and conveyed that the said property is further lien/ mortgage therefore Dewan finance has to pay further money to release the lien. Dewan Finance informed me abt the same. I took a stand that, It is not my fault. It is mistake on your part. Therefore, it is responsibility of Dewan Finance to get the property paper from UCO bank. On the contrary Dewan Finance pressurizing me take possession from UCO bank and filed summery suit against me for not paying EMI to them. I am ready to pay EMI to Dewan Finance but want get the property papers from UCO bank. What is the solution


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 2 Replies

adv.bharat @ PUNE (Lawyer)     29 May 2016

1)DHF title and search report must indicate that property have lien. Plz read it care fully whether lien is 72 lakh or more?

2) UCO bank is equlally responsible for amount of lien. If lien is more than 72 L then why they informed DHF to pay only 72 L first. Then after word demaned more lien amount?

3) Give notice to UCO bank on point no 2 through lawyer for recovery of property paper.

THanks

Kumar Doab (FIN)     29 May 2016

Show all papers and communications to a very able counsel at your location.


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