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Property cancellation by the builder
3 years ago
Booked a property in 2015 . Couldn’t pay the final possession charges in 2019 due to financial challenge . Home loan taken against it is still there though emi being paid regularly. How do I seek refund and stop the emi of home loan
Adv. Sarika Khude
Responded 3 years ago
A.The bank can file a suit against you for non-payment of EMIs.
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Ayantika Mondal @ Prime Legal
Responded 3 years ago
A.Hi,
Most loan agreements have clauses stating that there shall be no refunds in case of the debtor's inability to pay. As such, the bank owns your property until you have completely cleared the loan. We shall have to look into the terms of your specific loan agreement to determine whether any other solution is available. Beware, the bank can file a suit against you for non-payment of EMIs.
Most loan agreements have clauses stating that there shall be no refunds in case of the debtor's inability to pay. As such, the bank owns your property until you have completely cleared the loan. We shall have to look into the terms of your specific loan agreement to determine whether any other solution is available. Beware, the bank can file a suit against you for non-payment of EMIs.
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A.Hi,
Most loan agreements have clauses stating that there shall be no refunds in case of the debtor's inability to pay. As such, the bank owns your property until you have completely cleared the loan. We shall have to look into the terms of your specific loan agreement to determine whether any other solution is available. Beware, the bank can file a suit against you for non-payment of EMIs.
Most loan agreements have clauses stating that there shall be no refunds in case of the debtor's inability to pay. As such, the bank owns your property until you have completely cleared the loan. We shall have to look into the terms of your specific loan agreement to determine whether any other solution is available. Beware, the bank can file a suit against you for non-payment of EMIs.
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Rameshwar Dadhe
Responded 3 years ago
A.Go to the consumer court against them immediately
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Ankur Goel @ Complete Law Shield
Responded 3 years ago
A.how much are these final possession charges ?
take loan and take possession.
else sell it to someone who can pay possession charges.
this way you will be in profit.
else you ask builder for cancellation.
he will be happy to sell too someone else and refund you.
Hope this clarifies.
take loan and take possession.
else sell it to someone who can pay possession charges.
this way you will be in profit.
else you ask builder for cancellation.
he will be happy to sell too someone else and refund you.
Hope this clarifies.
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