Re: Legal Opinion regarding selling of the mortgaged property, A/C. M/S. Company 1.
We have perused the contents of your letter dated 19.10.2006 on the above subject matter. Our opinion in this regard is as follows:
Section 52 of the Transfer of Property Act, 1882 prohibits the parties of the suit from transferring or creating any right on the property, which will adversely affect the rights of the other party which it may get in the decree. In the instant case if Misc. Case No. 10 of 2006 filed by the Mrs. A is allowed, the property in question will be released in favour of Mrs. A. In such situation Bank cannot sell the mortgaged property to any intending buyer as per section 52 of the Transfer of Property Act, 1882.
Please note that the next date of the Title Suit No. 30 of 2005 and Title Suit No. 337 of 2006 filed by Mr. X has been fixed on 06.11.2006 and 05.11.2006 respectively for hearing of the petition.
Should you require any further query, please do not hesitate to contact the undersigned.
For: “The Lawyers & Jurists”