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Jacob Davidson   18 December 2021

UDS Property mongauged

After my father's demise we three children elder sister ,me and my brother divided my father's property a construted house on a a land of 4500 sqft . gave the house to my brother and 50% UDS on him and 50% on me and a right to construct a first floor for me my sister took five grounds of my mother's property and settled peacefully in 2012 i construted house on first floor in 2018 for 350000. now brother monguaged the house for his business and not paid his loan properly he has due of 31 lakhs the bank is likely to auction the property . the UDS and g floor of my brother if so do have any provision to put stay not go for auction that i pay the bank the the 31lakhs and take the house and UDS

kindly guide me in this regard that if any one outsiders buy the property it won be easy for me in future please kindly give me a solution for this problem


Learning

 2 Replies

Shashi Dhara   18 December 2021

You contact bank authorities and submit your proposal to retain property with you if they can compromise with you.

1 Like

Jacob Davidson   26 May 2022

After all the problem started from January regarding this property mortgage I was able to pay the news to the bank around 37 lacs and settle my brother 20 lakhs so totally 57 lacs settled to my brother . The property title was changed in my name by the settlement deed (brother to brother) .now I want to know whether I have to make a declaration statement and get it signed with my brother and his wife because since it's a settlement deed the money which was given to my brother is not shown in the settlement deed. my concern is that his wife or his may rise a dispute in future that her husband settled the property without a knowledge to his brother. kindly help me in this regards that whether I have to get the declaration or leave as it is with settlement deed .

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