hi members...
one of my friend has taken home loan on his house for 70 lacs rupees...as he was unable to repay the loan ,bank was going for auction of his house ...but my friend settled this matter for 70 lacs and asked for some help from me...i gave him 10.5 lacs rupees but as a security i took full n final agreemnet of 15 percent share of his same house ...this agreement shows that he has sold 15 percent of this house to me in lieu of 10.5 lacs...out of this 10.5 lacs i have done part payment by cash and part payment by a/c payee cheque....but when he went to bank with 70 lacs bank refused to release his house n bank demanded 85 lacs ....now my friend has entered in to a dispute with bank and has filed a petition in civil court...as he wants to get his house released for 70 lacs rupees and he is saying me to wait for this dispute to get over but i want my money back...now what i can do in this situation, how to deal with it????
suppose if he remains in dispute wid bank wht i can do in such situation and if he gets his house back can he sell it or get loan on it without my consent???thanks in advance members...
