Smita_L01042008 (student) 18 January 2011
Good Morning to all members.
Kindly guide what is the procedure to recover loan amount by selling the mortgaged property. the mortgagor is acting to smart and about to sell the property. please guide what can be done to sale the property and recover money.
Regards to all.
Darshan Panchal (Advocate) 18 January 2011
i understand that it was a simple mortgage and possession was not parted with. In that case the sell would be through intervention of court only. U will have to file a suit for the sale of mortgaged property. A simple money decree should suffice your purpose. The only hurdle is that it has to be through the intervention of court.
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