LOST OF Sale Deed
BVVSN MURTHY PATNAIK
(Querist) 08 June 2011
This query is : Resolved
PLEASE CLARIFY THE FOLLOWING;-
In the instant case the borrower has taken a loan & created equitable mortgage by deposit of title deeds in favour of the Lender.
However, the Original Sale Deed lodged with the Sub Registrar for Registration was reported misplaced. After registration the Sale Deed supposed to be collected by the Lender. In this regard the Lender is also having original Lodgment Receipt & authorization letter from the Borrower.
Right now the lender is having certified copy of the registered Sale Deed
In the above circumstance, what are the precautions to be taken for protecting the interest of the Lender
adv. rajeev ( rajoo )
(Expert) 08 June 2011
It is better to give the paper publication that the so and so property is pledged to him, if any body purchased the property such property is not at all binding on him and purchasers will be put in to loss.
PALNITKAR V.V.
(Expert) 08 June 2011
Get a certificate from the Sub Registrar office about the loss of Original. Take a certified copy from that office for your record. The certified copy would be admissible in place of original. The lender should try to register charge of mortgage in the record of rights.
Abhishek Marvi
(Expert) 09 June 2011
and also give police complain regarding loss of saledeed.
