Regarding consenting witness
Sanmathi S Rao
(Querist) 02 June 2018
This query is : Resolved
Hi! We have a property in Mysore, after trying for 2 to 3 years, we got a party which is interested in the property. The buyer has approached Axis Bank branch which is near our property, the bank is asking us to make a consenting witness deed. The property first belonged to my great grandfather and then it came to my grandfather and then to my grandmother( my grandfather's wife), then after my grandmother's death, the khata has been taken which includes the 5 surviving children, my dad is one among them. The bank wants 12 of the grandchildren to sign as the consenting witness while giving loan, in 12, 8 have settled abroad. How do we convince the bank that consenting witness is not required for the sanctioning of loan??
Ms.Usha Kapoor
(Expert) 03 June 2018
Since you are sellers bank is demanding consenting witness deed from all 12 grand children to avoid trouble from any of them or pose interference to the buyers rights as sellers descendants..Consenting witness deed means all the 12 grand children are aware of the transaction and sign it with their eyes wide open.
R.Ramachandran
(Expert) 03 June 2018
MS. Usha Kapoor: Why are you making repeatedly a foof of yourself?
The querist is not taking any loan. Rather selling the property. Therefore, where is the question of paying any EMI and defaulting in paying EMI?
R.Ramachandran
(Expert) 03 June 2018
@Sanmathi Rao: Pl. tell how your great grand father got the property? Did he purchase it? If so in which year?
When did your great grandfather die?
Is your grandfather only child of your great grandfather?
When did your grand father die?
How the property went to the name of your grandmother - especially when your grandfather had children?
Ms.Usha Kapoor
(Expert) 03 June 2018
Since you are sellers bank is demanding consenting witness deed from all 12 grand children to avoid trouble from any of them or pose interference to the buyers rights as sellers descendants..Consenting witness deed means all the 12 grand children are aware of the transaction and sign it with their eyes wide open.
Ms.Usha Kapoor
(Expert) 04 June 2018
I stick to the same view as above.
