I and my brother-in-law were partners In business and we both together purchased our business premises our shop from the owner equally and get registered the property. Later my brother-in-law sold his shares of 50% in my favour by executing a release deed and I paid the release consideration byway of cheque. Later my brother in law retired from the business but later i came know that the original joint title deed has been mortigage to a private financier by my bother in law with out my knowledge before selling to me. Now my brother in law is not releasing that document from the financier. now what should be my step legally please give suggestions to recovery of the link document .
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1. Without your permission the mortgage was defective.
2. However such would entail a lengthy legal proceeding which is better avoided.
3.i do not think much EMI would remain due .
4. if that is the case then you can foreclose the loan and get his deed reladed from bak so the mortgage is redeemed and the proeprty gets encumbrance free.
1) issue legal notice to brother in law to hand over the original chain documents
2) if he fails to do so file police complaint against him of cheating , criminal breach of trust under section 406 , 420 of IPC
3) in the alternative pay off the financier
4) sue your BIL to recover money paid by you to the financier
Loan taken is from private finances and amount is totally unpaid and very big amount. legally how can that financier give loan to my brother in law without taking my n o c on joint title deed? How can I recover that title deed ?
i have already advised you to issue legal notice to your BIL
2) he had no business to mortgage the title deeds when he had taken money from you to relinquish his share in property
3) sue your BIL . he has to repay the financier
- Your brother in law was not competent to relinquish this property in your favour, as long as the charge/encumbrance on this property was continuing on account of mortgage of this property with the financier.
-Your brother in law has defrauded both you and the financier.
- As long as the charge on the property was in existence, your brother in law was not competent to create third party rights over his 50% share.
-Seek refund of your money.
-Lodge an FIR against him for cheating you.
Issue a legal notice immediately to your partner, and if he fails to respond you should immediately file a complaint against him in the police Station.
Your brother in law will have to repay to the financer for the reason that he had taken money from you.
Regards
Settle the things with financier and release the deed first and ask the paid up money from your brother in law is the easiest version in front of you. If the things are not going in proper way send a legal notice to brother in law to hand over the original title deeds. If he fails to do so file a complaint before police station under Sec 406 and 420 IPC.
Brother in law has no legal right to mortgage your share with out your consent and knowledge. You are also not oblige to pay the debt amount to financier also. Contact a local lawyer.
Sir, the liability is only upon your brother- in- law.. Legally he cannot mortgage the property as he is only a co- sharer..however it is to be seen what more documents he has executed for mortgaging the property..On default financer cannot take over the property and will have to take a legal way to recover his money.. 2) you can obtain a certified copy of the joint title deed from the registrar office .. 3) also file a police complaint against your BIL, as he has commited forgery by transfering his interest twice to different individuals
Hi
Since both you and your brother in law are joint owner's of the property, your signature is mandatory for availing any loan on the property.
In absence of your signature, your property cannot be mortgaged (either by deposit of title deeds or by way of registered mortgage deed) and that any mortgage is totally invalid in eyes of law.
So you should file a cheating case against your brother in law and the financier.
Also you need to file a civil suit in the court to prevent any claims made by the financier on your ownership and possession of the property, given the fact that you were earlier the joint owner and now that you are claiming your ownership as 100% given the fact that you have purchased your brother in law's share of property as well.
Hope this information is useful.
In the joint ownership the procedure to transfer the share of one owner to another should be either by a registered sale deed or by a registered gift deed.
The transfer by release deed that too by an unregistered deed is invalid in law.
However based on the evidence of money transaction in this regard you can issue a legal notice demanding him to execute a registered sale deed by discharging the mortgage loan.
Failing to respond you may file a civil suit for specific relief of Registered sale deed in your favour with an application for interim relief in the form of interim injunction.
You verify that how and on what basis did the private financier advance loan on jointly owned property without the consent from another joint owner.
You can issue a legal notice to the financier demanding explanation and return of original title deed or else you would initiate legal action against the financier for the offences of forgery and fraud.
The joint owner may also be impleaded as a party to the legal notice.