My grandmother given property to my brother in 1986 and she was died in 2004,
property is her self made.
my brother give property to me in 2010 by sale deeds
now problem arise from bank that my grandmother was party in one account and these account is default. we not get any legal notice since now. such account is NPA in 1989
now bank threat me that your property can attached from bank as you are legal heir
my grandmother was died in 2004. we not get any legal notice since now. we not know these account detials and we not know my grandmother actually party or not and also my grandmother never did buisness in mumbai. we are live in ahmedabad since 50 years.
can you advise me what serious matter ?
Asked in Civil Law from AHMEDABAD, Gujarat
1) how did your grand mother give property to your brother?
2) was it by gift deed duly stamped and regd?
3) once you purchased propert by sale deed you would be absolute owner of the property
4) if account had become NPA in 1989 what was bank doing for 17 years ?
5) claim of bank appears to be barred by limitation
6) if bank takes legal proceedings you have to contest the same on merits
First you have to take the encumbrance certificate from registrar office and check there is any liability is noted in the certificate .Check whether any attachment has effected on the property?
(Encumbrance means the charges or liabilities created on a particular property, whereby it is held as a security for any debt of its owner which has not been discharged as on date)
Most probably the claim of bank has limitation and they can't approach the court for realising the amount. After purchase of the property by sale deed you become the absolute owner of the property. If the bank approach the court contest the case on merit. The bank has no chance for winning the case.
1)One needs to find out what type of account the bank is referring to? It ought to be a loan if it is NPA. It means that the loan was not repaid either interest or the principal for 90 days.
2) If you have received a notice you need to reply to the notice appropriately.
3) As you have purchased thee property from your brother for a consideration the bank has no right to attach the property any longer as the property is yours absolutely.
4) Besides the debt is time barred as the bank has not taken any timely steps to recover it or notify you in time.Engage an advocate locally and show him the notification you have from the bank and take appropriate steps.
1. How has your grandmother given her property to your brother? Is it through gift deed or sale deed? Was the deed registered before the said loan was availed with which your grandmother was a party?
2. If the loan was taken before she transferred the property to your brother, then he Bank can not lay its claim on the said property,
3. Did your brother or you get any property from your grandmother as her legal heir after her demise intestate? If yes, then your liability for her loan will be limited to the amount of property you have inherited from her.
The loan taken in 1989 and without any correspondence till date after that date, the loan is liable to barred by limitation. Hence you do not make any commitment to bank on their oral threats. Let them send something in writing, you may then decide about it by consulting a local lawyer on all such further issues.
1. It seems that the property was mortgaged by your grandmother who did not clear the mortgage.
2. It is true that the mortgaged property can be attached by the bank and then sold at a throwaway price to recover the unpaid loan. You should pay the unpaid loan to the bank if you want to preempt the attachment of the property. Get in touch with the bank manager to know the account details.