• 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 2 years ago in Property Law from Rohtak, Haryana

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