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If a person takes many loan from different persons by using his 1 same property?
3 years ago
If a person takes many loan from different persons by using his same property, then, 1. what ?
2. Do all of the lender have to go through long time court cases ?
3. Let's assume If lender no.T did everthing in legal way , got entry in EC , verified original document in registrar office , made a best agreement, got witnesses & if still the borrower cheated many people & all of the lenders filed court case ? What do you think which lender will win the case & become the owner of property - lender no.T or one from other lenders ? Tell % possibilities ?
4. How many years the case result will be pending in the court for lender no.T ?
5. How many years of other lenders ?
Ayantika Mondal @ Prime Legal
Responded 3 years ago
A.Hi,
No such estimate upon the time to be taken by court can be made, but it is highly expected that court can club all such applications together to save the time of the court, moreover, it is a possibility that T gets more share, but, it would be merely the discretion of the court.
No such estimate upon the time to be taken by court can be made, but it is highly expected that court can club all such applications together to save the time of the court, moreover, it is a possibility that T gets more share, but, it would be merely the discretion of the court.
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A.Hi,
The time taken by court in taking decision cannot be estimated, however, the court may club all the cases. Also, though there are more possibilities that lender T gets more share, however, it would again depend upon the court. Since the applications are expected to be clubbed together the time taken would be equivalent.
The time taken by court in taking decision cannot be estimated, however, the court may club all the cases. Also, though there are more possibilities that lender T gets more share, however, it would again depend upon the court. Since the applications are expected to be clubbed together the time taken would be equivalent.
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Ankur Goel @ Complete Law Shield
Responded 3 years ago
A.you already gone half mad for your mortgage business.
rest you will become after1st cheating
so its better you stay away from the word 'mortgage' 'cheating'
rest you will become after1st cheating
so its better you stay away from the word 'mortgage' 'cheating'
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A.Dear Sir,
My answers are as follows:
1. what ?
Ans: There are several similar situations that person takes loans and manage Sub-Registrar office not to enter such details in EC register.
2. Do all of the lender have to go through long time court cases ?
Ans: Each case requires 2-3 days time to dispose and if there are more than 1 case filed by different creditors then all the cases will be clubbed together if necessary application is filed.
3. Let's assume If lender no.T did everthing in legal way , got entry in EC , verified original document in registrar office , made a best agreement, got witnesses & if still the borrower cheated many people & all of the lenders filed court case ? What do you think which lender will win the case & become the owner of property - lender no.T or one from other lenders? Tell % possibilities?
Ans: If there are more than one Lender then Court will decide the matter on pro-rata basis that is each lender gets some percentage of property as per loan advanced.
4. How many years the case result will be pending in the court for lender no.T ?
Ans: Nobody knows because Civil Court takes so many hearings. The Trial Court, the first Appellate Court and second Appellate Court and each Court takes minimum 1-2 years time to dispose the case.
5. How many years of other lenders?
Ans: All cases will be clubbed together if other lenders files such applications.
My answers are as follows:
1. what ?
Ans: There are several similar situations that person takes loans and manage Sub-Registrar office not to enter such details in EC register.
2. Do all of the lender have to go through long time court cases ?
Ans: Each case requires 2-3 days time to dispose and if there are more than 1 case filed by different creditors then all the cases will be clubbed together if necessary application is filed.
3. Let's assume If lender no.T did everthing in legal way , got entry in EC , verified original document in registrar office , made a best agreement, got witnesses & if still the borrower cheated many people & all of the lenders filed court case ? What do you think which lender will win the case & become the owner of property - lender no.T or one from other lenders? Tell % possibilities?
Ans: If there are more than one Lender then Court will decide the matter on pro-rata basis that is each lender gets some percentage of property as per loan advanced.
4. How many years the case result will be pending in the court for lender no.T ?
Ans: Nobody knows because Civil Court takes so many hearings. The Trial Court, the first Appellate Court and second Appellate Court and each Court takes minimum 1-2 years time to dispose the case.
5. How many years of other lenders?
Ans: All cases will be clubbed together if other lenders files such applications.
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