• Property on pledge for money given on interest

Dear Sir/Madam,

I am from Rohtak, Haryana. I have given certain sum of money in cash to my known person at interest rate of 2% per month. From last 6 months he is unable to pay interest and principal.

Now for the security of money he is ready to give his house as pledge (girvi) for the period of 6 months. If within six months he is not able to return me the principle and interest the property will be transferred to me.

But one more thing to note is that, he is not having the registry of that house. He is having POA with him.

Please help me to move in this regard and safeguard the amount.
Asked 10 years ago in Property Law

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1 Answer

 take post dated cheque from him without written amount. Cheque should be from his account and with his sign with all his photo ID and address proof. 

Prepare one notarized Samjuti Karar between you both with limitation time if he will not pay before so and so date then you can deposit cheque with full amount with interest in bank. 

if Cheque bounced then you can file criminal complaint against him for full amount.



Hiren Jitubhai Brahmbhatt
Advocate, Ahmedabad
8 Answers

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