Document not returned
Anonymousname
(Querist) 01 May 2011
This query is : Resolved
Hi,
Please advise me on the following issue .
My father has taken loan from State bank of India wellington Island branch for business purpose and
after a court case a compromise settlement was reached with the bank to repay the loan amount. The entire amount mentioned on the compromise proposal was paid to the bank within the scheduled time and on 03/08/2004 bank has issued a letter saying that all dues has been settled and the case is dismissed. My father was working abroad during this period and hence he was waiting to come and collect the document (property deed document kept as mortgage) once he comes for vocation. But my father fell ill and died in Dec 2005.
After my father's death me and my mother contacted the bank several times in person and through phone regarding the return of deed document.But the response we got was very bad.Many timees the manager refused to meet us or pick up the call.
We contacted an advocate and his advise was to take certified copy of the deed document and thats enough for any transactions. Please advise on what to do in this situation. Is taking a certified copy enough in case i want to apply a housing loan from any bank or sell the property? Do i need to take any more letter from the bank and if so what ? And whom to contact? Please advise
Regards,
Rapthy
Devajyoti Barman
(Expert) 01 May 2011
If it is a question of loan then the Bank most likely would ask for the original deed.
Send a notice to the bank asking for return of the original deed.
If it defaults then file writ petition against it.
Guest
(Expert) 01 May 2011
i agree with mr barman
Guest
(Expert) 01 May 2011
Bank can't hold back the original sale deed on settlement of dues. Instead of approaching verbally to the Manager, first send advocate'sotice. If the bank still fails to return the documents, file a writ petition against the bank.
Raj Kumar Makkad
(Expert) 01 May 2011
There might be loss of documents from bank and in these circumstances it is better to send a legal notice and pressurize tha bank to admit its guilt and issue you a certificate to that effect. If this is issued then certified copies shall suffice your future plan.
malipeddi jaggarao
(Expert) 02 May 2011
Mr.Rapthy, original documents are very important and you should get them back at any cost. They can be misused, though your title will not effect, it may lead into unnecessary legal battles. In the present case Bank has not returned the title deeds though they issued a certificate that all dues have been settled. The original mortgagor/depositor of title deeds is deceased. The dues are paid long back in Aug 2004. In many cases, Banks do not safe keep the old record. They have to make extra efforts to trace out the record. Hence they always try to avoid answering/entertaining such cases. Only the remedy is as experts advised, you send an application to the Bank stating the facts and demand for return of original documents. For this all the legal heirs together have to apply for return of documents and it is required that you have to enclose the death certificate of the loanee, legal heirs certificate and also the copy of the bank's letter which was issued earlier stating the dues were settled. Wait for the response for reasonable time and then issue a legal notice. Even then if the bank does not relent, only the course of action is legal battle.
As far as advice of your advocate that certified copy is suffice, I do not agree. Though the title to property is not lost simply original documents are not in hand, it is very difficult to get loans from the Banks. Banks normally will not accept certified copies as collateral security or favour any loans. Even if you wish to sell the property, the buyer may demand for original and suspect the transaction. Furthermore, if the original goes into wrong hands, it can be misutilized by entering into transactions by impersonation. As I already explained above, this may not deprive you of ownership, but it may lead you to land into legal battles. My advice is, visit the Bank and explain the Incharge all these intracacies and ask them to search for the original document giving reasonable time. If they fail, adapt the course of action suggested above.
Isaac Gabriel
(Expert) 02 May 2011
Send an RTI application requesting for the details of the loan, date of closure,the type of documents given as pledge, the date of return of the documents,if not whether documents are available or lost,and when could it be returned to the claimant etc.,The reply will illustrate the course of action to be taken against for getting duplicate copy for your future use.
Guest
(Expert) 02 May 2011
this is not the right way if the bank replies that the documents have been returned to the loanee then what will be the option to that person so send a notice to the bank.
Guest
(Expert) 02 May 2011
Dear Isaac,
In response to your proposed RTI application, if the bank says, no other party, except the loan account holder has the right to ask such questions and he is already dead, what would be the alternative with the heirs to deal with the bank or to get the original documents?
Still further, suppose the bank replies in response to the RTI aplication that the original sale deed is lost, whether the heirs would be able to get the original documents from the bank any time after that? They would definitely try to destroy the riginal documents or hide the same to prove their version.
The question arises, when the family members already know the facts on what you proposed to send application under RTI, what would be the use to waste time on wasteful activities, while their problem is to get the original documents back?
RTI should be used only for genuine purposes when the information is not available from any source.
