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in Banking Law Contracts Law Property Law
Asked September 24, 2017

Sale of disputed property by the Bank

  • 1 Answer

I rented an apartment nearly 30 years ago, solely in my name. With intent to buy I paid a hefty amount. But the landlord tried to cheat me so I started paying to rent control. Thereafter the bank took over and although I did not sign any letter authorizing my son to act on my behalf.. The bank sold my apartment to my son.. Which he has now had registered in his and his wife's name.. Is this legal? And if not, what are my legal rights?

Answer 1

The sale of the property by the Bank is a completely new transaction which the Bank has complete right to do if the dues were not returned to the Bank. The Bank has complete right to sell the property to recover the loan given to debtor. It just so happens that it is purchased by your son. 

Agree Comment 0 Agrees over 3 years ago

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