Mortgage By Conditional Sale
Sir I did a registered mortgage by conditional sale to a person in 2006.according to deed if mortgagor donot pay the loan in specified duration (4 years) the deed convert in absolute sale and I(mortgagee) will be the owner of property and get possession of property. the person (mortgagor) didn't pay the debt amount after and before the specific time duration 11/10/2010.after date I request him many times to give money and return his lone.but he refused all time.in 2012 April i need to money urgent so I sale to mortgage property to a person (A) by registered sale deed.person A get possession and mutation in his name in govt record. person A paying property tax since 2012 to till now.now the son of mortgagor come to me and said I will give your amount and return my land otherwise I will go to court and case against you.sir I want to know do I did any wrong thing to sale my land(because I was the owner at selling time' of land according to deed of mortgage by conditional sale section 58 c transfer of property act1882). Can court rejecte sale deed who I sold to person A.
Free Legal Advice - civil law
Posted by: Vivek
Posted on: 2018-08-13
Hi Vivek, section 58 (c) in the transfer of property act of 1882 talks about mortgage by conditional sale. which in your case makes it rightly a mortgage by conditional sale. But along with this section you need to take a look at the conditions provided under section 69 of the TPA, 1882 which provides for selling of mortgage property without the intervention of the court. which under section 69 (2) lays down prerequisites for exercise of the power: 1. a notice as to the payment of the due money has been delivered to the mortgagor, and default has been made with respect to that and continued for a period of 3 months after the service of such notice. 2. and some interest of minimum rupees 500 remain in arrears or remains unpaid after the same becomes due. therefore your sale of property to A is valid only if you have complied with above conditions. I hope you are satisfied with the answer.
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