property,Sale of property
Query on Sale Proceeds from the mortgage Property
What happens if the sale proceeds from the mortgaged property is not sufficient to satisfy the debt?
By  Esha Dhir  |  06 May 2016  |  Upvotes: 0  | 

1 Answer(s)

Deepika Gill

If the net income from the sale of the mortgaged property is not enough to satisfy the debt a personal decree will be passed against the mortgagor and he will be held personally liable to satisfy the balance amount.

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