Sold Mortgaged Property
Hello,
I had a land Bank loan on a land. in 2018, I made an agreement with a dealer to sell this property. I intended to clear this from the bank & then do the registry. However, dealer brought a buyer and insisted on doing registry right away.
I refused and informed him again that this property is mortgaged in the bank. To this he connected me to his lawyer, who told me that I am the owner of the property and I can make the sale. He insisted that if it is illegal, registrar office would not proceed with the registry, and I only need to pay my EMI's on time; and bank will not object to this.
It was my stupidity that I believed him and proceeded with the registry. The registrar office did accept & proceeded with registry & executed the mutation too.
However, later I got to know that it is illegal & I am in trouble. I immediately, made all the payment to the bank, and got the NOC.
Now I want your esteemed advise on :
1- if the bank or the buyer can still file criminal case against me.
2- Since, the bank's account is already closed, will the bank go on to file the case
Please advise.
BR