Hand Loan given w/o agreement but With land mortgage

5 years ago

Hi,
My query pertains to a hand loan given to a person but without any such agreement. This loan was given on a trust basis and the issue as such been over more than 10 years old. However, I had kept the mortgage property of the person who obtained a loan from me. My requirement is to sell this mortgage property(no PoA) and recover my dues. Is there a legal way to go about?

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Prabhakara S K Shetty

Responded 5 years ago

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A.Kishan Dutt Kalaskar Retired Judge has given correct advice. Your keeping the papers of the property does not come under mortgage by deposit of title deeds. but a private lending is not prohibited unless those papers are pertaining to agricultural lands.

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Deepak Yashwantrao Bade

Responded 5 years ago

A.Kindly contact or visit to vidhikarya lawyer office for proper legal advise and procedure.

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ROBERT D ROZARIO

Responded 5 years ago

A.Come on paid consultation

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Ambrose Leo

Responded 5 years ago

A.You have to make documents for disposal or salable in order to recover your dues,Now Money lending without valid money lending licence is offence punishable in Maharashtra because of Famers Suicide,better to solve the issue peacefully and collect your dues,because on any action from the party will be to your account and consequences.

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T B L Murthy

Responded 5 years ago

A.No unless you as well as the person who took loan from you are from bombay. In bombay mortgage by deposit of title deeds is a legal mortgage but not anywhere else in India

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Anand Shukla Legal Practitioner,Legal Consultant & Advisor

Responded 5 years ago

A.Needs to have an access of the mortgage deed ,before giving any realistic advice

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Kishan Dutt Kalaskar

Responded 5 years ago

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A.Dear sir,
It cannot be sold until you file a suit for foreclosure if it is registered mortgage deed. If it is unregistered mortgage deed then file a suit for declaration and enjoy the property.

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