Bank lost the property document
Querist :
Anonymous
(Querist) 23 January 2012
This query is : Resolved
My brother availed a home loan to purchase a residential property in Bangalore from a nationalized bank in 2002 for a term of 5 years. On closure of the tenure we came to know the bank has misplaced the original title deed, (the document wherein the vendor has registered the property in my brother’s name) which the branch manager is denying to take the responsibility, as the then manager is transferred. Except the title deed the banker has all the other documents deposited by us and the banker adamantly says, these are only the documents available with the bank, either take or go ahead & do whatever you want.
Since we required funds for the purpose of business, we did not release the documents, instead, took a fresh loan (mortgage loan) on the same documents, but the Original title deed is still missing.
We have taken the certified copy & the E C pertaining to the said property from the Sub-Registrar’s office and there seems to be no transactions taken place and the property still in my brother’s name.
My query is that: in future if we want to sell this property, without the original title deed, we may face problems, so pls advice, how do we deal with the bank while closing the loan and releasing the property documents?
Best Rgds
Raj Kumar Makkad
(Expert) 23 January 2012
You should lodge a police complaint of loss of original sale-deed after the closure of your account with banker so that it may be used as a reference and you shall not face any problem in future on the basis of that report.
Devajyoti Barman
(Expert) 23 January 2012
Yes. loss of original document may cause problem specially with regard to securing equitable mortgage by deposit of title deed.
Since it is the fault of the Bank you can file case before the Consumer Forum and ask for huge compensation.
Querist :
Anonymous
(Querist) 23 January 2012
Thanks Mr. Makkad & Mr. Barman for your valuable advice.
Could you pls guide me how to go about filling a case before the Consumer Forum pls?
Best regards,
Deepak Nair
(Expert) 23 January 2012
To file a consumer case, it is advisable to send a legal notice to the bank to solve the issue within a specified time period i.e. 15 days or so. If the bank does not response satisfactorily then you can go ahead to file a complaint.
You have to draft a complaint stating all the facts of the case, your grievences and your prayers to the consumern forum. Thereafter you should make an affidavit in support of the complaint and file it in the Forum. You have to pay a fees of Rs.100/- or Rs.200/- according to your claim amount.
It is advisable to get the services of a good advocate who is well versed with consumer cases.
ESTHERPRIYA
(Expert) 23 January 2012
yes you have to give police complaint and give paper publication to safeguard your self
Devajyoti Barman
(Expert) 23 January 2012
Yes, do engage a lawyer and file complaint u/s 12 of the Act.
Sending of notice is though optional.
Raj Kumar Makkad
(Expert) 23 January 2012
I do not recommend you to file any case against bank as this shall prove a wastage ot time and energy because you have already condoned the loss of document made by bank by availing second loan even after intimation in writing by bank that the document (sale-deed) is not with them and the same seems missing and it is now up to the mortgagor to take appropriate action as he deems fit and you obtained attested copy of that sale deed from the office of registrar.
No chance left for you to go to DCDRF in the given case.
Advocate. Arunagiri
(Expert) 23 January 2012
Even if you go to the consumer forum, the forum may order only the cost of getting a certified copy of the lost sale deed from the concerned SRO.
Shonee Kapoor
(Expert) 31 January 2012
Agreed with Mr. Makkad and Arunagiri.
Regards,
Shonee Kapoor
harassed.by.498a@gmail.com
