• What will happen if mortage property is purchased without knowing

My father purchased a property in Kolkata. After staying for 4 years we came to know that the property is mortgaged with some bank. But we have original papers of flat. The mortgage loan was taken by husband of the 1st purchaser. We are 3 rd in number. We purchased from 2nd purchaser. Some bank people came and told us. Now what to do.what will happen to our property. What can bank do.
Asked in Property Law from Kolkata, West Bengal
if it is mortageged in that bank will recover his dues and if required auction it
Rajeev Bari
Advocate, New Delhi
1506 Answers
92 Consultations

3.5 on 5.0

if you have  original papers of property how was property mortgaged? you must be having original chain of title documents . 

did you not do due diligence before purchase of property ? . find out from bank details of mortgage . if loan was taken by husband of 1st purchaser and if he fails to repay loan bank will seek to sell the property for recovery of its dues .
Ajay Sethi
Advocate, Mumbai
28579 Answers
1551 Consultations

5.0 on 5.0

Ask a Lawyer

Get legal answers from top-rated lawyers in 1 hour. It's quick, easy, and anonymous!
  Ask a Lawyer

Property Lawyers

T Kalaiselvan
Advocate, Vellore
18762 Answers
176 Consultations

5.0 on 5.0

Ajay Sethi
Advocate, Mumbai
28579 Answers
1551 Consultations

5.0 on 5.0

Krishna Kishore Ganguly
Advocate, Kolkata
13959 Answers
309 Consultations

5.0 on 5.0

Ashish Davessar
Advocate, Jaipur
19896 Answers
520 Consultations

5.0 on 5.0

Devajyoti Barman
Advocate, Kolkata
7310 Answers
83 Consultations

4.9 on 5.0

Shivendra Pratap Singh
Advocate, Lucknow
3303 Answers
51 Consultations

4.9 on 5.0

Rajgopalan Sripathi
Advocate, Hyderabad
996 Answers
73 Consultations

5.0 on 5.0

Ajay N S
Advocate, Ernakulam
2070 Answers
24 Consultations

5.0 on 5.0

Shashidhar S. Sastry
Advocate, Bangalore
1338 Answers
75 Consultations

5.0 on 5.0

Kiran N. Murthy
Advocate, Bangalore
831 Answers
62 Consultations

5.0 on 5.0