Mortgage home documents - bank
amy
(Querist) 21 March 2012
This query is : Resolved
My father had taken loan on the house . He died some years back. The loan has been cleared some time back. Before he passed away he gifted the house to me - registered on legal paper with local tahsildar with photos signature....
When I went to bank for documents banker asks to get letter from all legal heirs- brothers, sisters. Is this needed when clearly the property is in my name as per the deed
ajay sethi
(Expert) 21 March 2012
your father could not have created third party rights on the house during subsistence of loan without obtaining sanction from bank .
the loan must have been repaid after your fathers death .
you have not mentioned exact sequence of events but i have presumed that loan was reapid after your father death .
the bank is just taking precautions as it does not want to be entangelled in legal battle with heirs .
Shonee Kapoor
(Expert) 21 March 2012
Bank has the right to be cautious.
Regards,
Shonee Kapoor
harassed.by.498a@gmail.com
amy
(Querist) 21 March 2012
But it is a headache and nusinance to get signatures from all bro and sisters...does the registered gift deed of no legal value or stand.... cant we not ask the bank why this cant be valid.
ESTHERPRIYA
(Expert) 22 March 2012
Look the manager to avoid any issues has asked for such letter as it is the norms of them. All the legal heirs has to give such letter and they are bound as you are the legal owner for such property they cannot decline for it. Ask them to give such letter if they are not giving then you can fight with the bank to release the documents
amy
(Querist) 22 March 2012
I also have a will copy-un registered . Would this help along with the gift deed copy . How do banks view a will copy as evidence
amy
(Querist) 28 March 2012
any update on my posting of will copy
