About deal in property

5 years ago

Hello, respected advocate/consultants I have one question related to my personal life that I am facing. Will go step by step in order to understand easily. 1) Ram (name changed) purchased flat on loan in 2015. He got flat possession in the month of May 2016. After 2/3 months he changed his job and shifted to another city and gave flat on rent to known person (Mohan). 2) In December 2016 Ram got chance to complete his higher studies. So after discusing with Mohan, an idea comes. The idea was, Mohan will purchase the flat, But as he had no money to buy it in one stroke or any other way at that time. Then Mohan agreed to pay the loan installment (emi) regularly on behalf of Ram and remaing amount will be given to Ram,suppose 5 lakh. After one year Mohan will shift loan to his (Mohans) wifes account. (Mohan was private business person so difficult to was get home loan on his name). 3) Deal made orally as both was friends and that time dicided to do stamp paper documents (agreement) about the deal between them after 2 month or whenever they got time. 4) Mohan started paying installment from January 2017. After March 2017 mohan family got in crisis (new born baby) and Mohan wife left job. affter then Mohan was unable to pay installment regularly. He frequently missed the emi. 4) in December 2017 Ram got notice from bank as loan account went NPA. Bank order to pay NPA amount within 15 days. Somehow Ram adjusted some money by his own and pay to bank. Ram said Mohan to pay installment regularly. That time Mohan said I am in very much critical condition and cannot pay installment. You may sell flat to any other person, I will cooperate you accordingly. 4) Due to demonitisation (PM modi decision in November 2016) property rate drops suddenly and Ram not getting the customer giving rate such that he can paid up loan amount (property rate was below loan amount). But in April this month one customer became ready to pay only bank loan. Ram think that he can save himself from atleast bankruptcy. So tell about deal to Mohan. 5) Now Mohan has changed his stance and saying that unless he got the money he paid towads installment he will not vacant flat. Please give me expert solution