Your father is not a rightful owner in terms of Transfer of Property Act, since the property is an equitable mortgage in bank and it was not free from encumbrances.However if your father purchased the said property by a registered Deed of Conveyance then your father should file a Declaration and Injunction suit in Civil Court for recovery of damages form the purchaser.Your father can also file a Criminal Case u/sec.420,406 and 427 IPC in Judicial Magistrate Court.
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 3rd 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.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.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 10 years ago in Property Law
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3 Answers
Your father is not a rightful owner in terms of Transfer of Property Act, since the property is mortgage in bank and it was not free from encumbrances.
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