Legal Question in Real Estate Law in India

Hi, I am the garantor for my friends O.D current account, My property document is with his bankers, I have borrowed some amount from my friend for the document which i am not able to pay right now. So I like to sell my property. How can i sell my property which is mortaged in the bank with a OD current account. He is ready to release my document if i pay the amount i borrowed from him. Please help to solve this situvation

Asked on 7/03/13, 9:12 pm

1 Answer from Attorneys

Fca Prashant Chavan Expert Edge LLP
0 users found helpful
0 attorneys agreed

04.07.2013

Dear Sir / Madam,

I cannot see a way for you to sell your property when you have lodged the original property documents with your friend's bank for the purpose of his OD facility from his A/c in his bank. Here, your friend too cannot release your documents till he clears off and settles his entire OD in the bank. The way forward is for your friend to settle the bank and close the OD account.

Regards,

Read more
7/04/13, 12:55 am

Related Questions & Answers

More Real Estate and Real Property questions and answers in India

Looking for something else?

Get Free Legal Advice

8784 active attorneys ready to answer your legal questions today.

Real Estate and Real Property Legal Forms

Browse and download our attorney-prepared and up-to-date legal forms from $4.99

Find a Legal Form

Featured Attorneys

Timothy McCormickLibris Solutions - Dispute Resolution ServicesSan Francisco, CA
Anthony RoachLaw Office of Anthony A. RoachChatsworth, CA
Barry SteinDe Cardenas, Freixas, Stein & ZacharyMiami, FL
Find An Attorney

Are you an Attorney?

Earn additional revenue and grow your business. Join LawGuru Now