Recovery and possession

5 years ago

I had lended 75 Lacs (10 L in bank and rest in cash) to a family friend of mine on basis of 1% monthly interest for an year , taking his shop as mortgage.
(The shop is now registered in my mother name with a proper sale agreement registered in front of the registrar) , He is using the shop as my tenant (registered rent agreement) .
He is unable to pay me any more but is in good talking terms. What documents should i get signed from him as to which later he or anyone doesn't trouble me getting the shop vacated? Also the net worth of the shop is 50 L and hence i m in loss of 25 L , to recover these should i take blank cheques? will they show in court if i file a recovery suit? Please answer in details.

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ROBERT D ROZARIO

Responded 5 years ago

A.Need to review the document. You can contact me through Vidhikarya.

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Deepak Yashwantrao Bade

Responded 5 years ago

A.You should be take loan promissory note from him.also take blank cheque and mention all cheque description into promissory note. promissory note will be notorised and mention with all transactions. Consult with local property lawyer or contact with vidhikarya lawyers for further legal procedure.

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