I took out a loan against the property of Rs 62.8 Lakhs by mortgaging my apartment to help my friend and his wife found their business. The full amount was paid to them by three cheques. He promised to repay the amount in six months, and until the full amount was repaid, he promised emIs bank by depositing checks into the bank account. After depositing four cheques, he stopped that for the last four months. No debt certificate or loan agreement was signed, as I believed the family would keep their oral promise. As a retired officer in the armed forces who receives a limited pension, I cannot repay bank EMIs. I`ve even sold jewelry for the last four months to pay for EMIs, to prevent it from becoming a credit default. Please indicate how to recover the amount indicated. I know I dug my grave, and now I don`t want to be buried there. In case of non-payment of EMIs, the bank can sell my apartment to recover its loan. Is it possible to get a form letter in which a loan by hand was paid to someone for housing purposes? Cher ijk, 1 – Are the three mortgages in common? One of these qualities are ancestors? 2 – As the real estate is in his name, he has the right to sell the real estate without the agreement of the legal heirs.
“Self-acquired property is any property purchased by a person from his or her resources, or any property that he or she acquired as part of the division of an ancestral property/co-arch-attorney, or as a legal inheritance or by a testamentary document such as “Will,” etc. “acquired.” I took out a loan from my wife (4Lakhs) in 2017 and we agreed that she would receive my rental income from my old house for the next five years (I am the exclusive owner). There is no written credit agreement for this purpose. Sir, can you please send a loan agreement document (template) to my email ID. That would be great. Thank you first of all for this informative page. In 2014, I lent 2 Lakhs to a family friend who believed in his insurance to pay it back “soon”. Two years have passed since then, and he incidentally apologizes when I ask him for my money. I managed to get him to write a PN (on white paper, signed more than 2 rupees tax stamp, 2 witnesses also signed the PN) retroactively to 2014.
My question is, is this PN enough (I also have the electronic receipt of the bank transfer I made and also recorded conversations with him) to legally force him to return my money? I would hesitate to take it to court if success is not guaranteed. . . .