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Q. Property interested in buying is part of three mortgages kept with patpedhi

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Prakash Ganoo

posted 2 years ago

Q.Property interested in buying is part of three mortgages kept with patpedhi
A flat holder in my building has mortgaged his flat with patpedhi along with two other shops not in same society. Now since he cannot repay he wants to dispose of the properties and settle loan with patpedhi. My question is how safe this is to buy such a flat, since it is very useful to me and price quoted is also good. The seller, I.e. the borrower of patpedhi and the branch manager of patpedhi both assure me that dealings for other two shops are in advance stage and they will release all three together. My dear is if the other deals are not through, my possession and release of lien by patpedhi will Benin jeopardy. Please advise how safe this deal will be. The patpedhi and seller both are agreeable to my depositing money with patpedhi.

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Deepak Yashwantrao Bade

Experience: 10 Year(s)

Responded 1 year ago

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A. ) Hallo sir this deal is safe but you need to consider all legal facts about this deal. Better way to discuss matter with expert property lawyer

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