My parents own the house we are currently living in, my father is a gambling addict , now he wants to take a bank loan against the property. My mom doesn't want that.
The property or land actually belonged to my mom's father's name but to build a house we needed loan, so my grandfather registered the property in my father's and mother's name.
Is there any way to stop this? My father is ex service man but he will never be able to pay back the money.
He is taking this to pay back his gambling debt.
What should we do?
We only have this house, we are pretty sure we will loose this house, if he takes the loan.
In the deed it is in my father's and mother's name.
As per the facts which have been provided, your father can acquire a court order if he wants to sell a co-owned property, providing he has a compelling reason to sell. This is known as a partition action. But without the approval of the Court your father can't sell the house if the co-owner of the property is not ready to sell.
Get file a maintenance suit against your father and get stay order from selling the property. That suit has to be filed by your mother only.
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Advocate Sinjari Bandyopadhyaya
Responded 2 years ago
A.As your mother is the co-owner of that house so without her NOC, the Bank will not sanction the loan allowing mortgage of that house property. It is necessary for your mother to keep the Original Title Deed of such house property in such place that your father can't get the access of the same.
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Property - father is a gambling addict
Property division
