I am herewith describing the problem at present i am facing.Please guide me
1) In the month of FEB-2012 my father-in -law want to sale his own house to settle his bank loan (Bank given verbal information for the settlement of the loan).
2) The tenant was interested to buy the house and given a advance of Rs.25000/- and got the signature of my father-in-law and witnessed by my wife in a Rs.20/- bond paper for the advance paid without mentioning any date for the settlement of balance amount .
(My father-in-law and my wife did not aware of the problems of without any date in the bond paper)
3) In the meanwhile the bank send a notice, to settle the loan amount with interest within stipulated time or otherwise the house will be auctioned.
4) The tenant who has paid the advance did not come up with the balance amount within the verbally agreed time for the completion of the purchase.
5) In this circumstance to avoid the auctioning of the house my father-in-law asked me to settle the amount and solve the problem.
6) I have paid the loan amount with interest in installment as agreed by the bank.
7) Until July-2012 (approx :6 months gap) the tenant did not reply and not even paid the agreed amount in time. In this circumstance my father-in-law wanted to settle this amount by transferring the property to his daughter name.(registration done in the month of July-2012).
8) When my father-in-law and my wife were asking the tenant verbally to vacate the house ,he refused to vacate the house and started threatening with the Rs.20/- stamp paper signed by my father-in-law and my wife.
At present my family is staying chennai with my father in law and i am working in abroad.The property is in the Rasipuram,Namakkal dt, Tamilnadu.I have invested heavily and i could not able to anything.Your kind advice is requested
