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Author Topic: Failing to repay the loan  (Read 695 times)

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Offline Surya

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Failing to repay the loan
« on: September 24, 2014, 08:22:19 AM »
Mr.X took loan from a co-operative society by showing the copy of the title deed of the property 'Y' and with two witnesses. The original of the title deed was mortgaged in a bank. The property Y is an ancestral property... Pls tell me that the co-operative society can attach the  property 'Y' if X fails to repay the loan? Pls give me an answer.

Offline advRanjithRajagopal

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Re: Failing to repay the loan
« Reply #1 on: September 24, 2014, 08:33:13 PM »
It all depends upon the loan agreement. what was signed by Mr.X
if Mr.X was a defaulter than, he can seek time for payment with interest, that is possible.

* By the way take this  advise from a lawyer: loan and partnership these are two things stay away from than you can have a very happy and peaceful life. :)
adv.Ranjith Rajagopal

Offline Surya

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Re: Failing to repay the loan
« Reply #2 on: October 26, 2014, 06:37:21 AM »
Thank you. Sir, whether we can mortgage a property more than 1 time?

 

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