Legal Question in Real Estate Law in India

If I get an opportunity to buy a property which is posessed by the Bank under Sarfaci Act, would I face any hassle


Asked on 1/25/11, 12:14 am

1 Answer from Attorneys
M K Law Associates M K Law Associates

Please Look into Question herein below ::

Are you taking property in Auction?

Are you taking property from the borrower ?

Have you inquired about pending litigation, if any ?

Only one Bank have charge on the property or there are other Secondary Charges on the property also?

In case of SARFAESI ACT, Original Property Papers are mortgaged with the Bank. Till the realization of the Loan amount this property is guarantee with Bank and liability of repayment of loan will always be attached to this property.

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Answered on 1/25/11, 12:47 am


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