Effect of Insufficient recovery from attached property

What happens if the sale proceeds from the mortgaged property is not sufficient to satisfy the debt?

Team Legistify

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.


Ask Your Legal Question Now

Ask a Query

Tags: Money Recovery

Have a Legal Issue?

Get connected to the Best Lawyers and Chartered Accountants Near You!

You might like reading these