Posted on: 12th Sep, 2010 02:11 am
I have a plot(200 sq.yards) consists of an individual house and present market value of the house is about Rs. 25,00,000 (rupees twenty five lacs) including open land about 10.sq.yards), due to some financial crises I borrowed Rs 5,00,000 (Rs. five lacs) form X for int rest @ Rs. 4.50 / month and given sale cum GPA. At the time of SGPA I told him, please give an agreement of sale (same house) on the name of my wife to process housing loan to over come all debts (Rs. 15,00,000) he has given sale agreement for Rs 17,00,000 and we submitted all the documents for home loan and the same under process and we informed him orally that I am in the process to obtain home loan and get the same soon. Without our knowledge/concern the X sold the whole property to Y. We will be kind of you if you give us advise, how to get back the property.
Welcome prtadikamalla,
If you've transferred the property to the person called X, then he had the rights to sell it off to someone else. You can negotiate with Y in order to get back the property. It will be completely Y's discretion whether or not he would give back the property to you.
If you've transferred the property to the person called X, then he had the rights to sell it off to someone else. You can negotiate with Y in order to get back the property. It will be completely Y's discretion whether or not he would give back the property to you.