Regarding title of property
Mahesh
(Querist) 16 August 2012
This query is : Resolved
Dear Sir
One of my client has taken a loan from bank against property And legal advocate of bank has demand for original previous owner sale deed which was actually made in the year 1984. this original previous owner sale deed is not available.
So my question is that it is important or not for giving such old original sale deed to bank. and if it is not important then what type of action to be taken for realaise to legal advocate of the bank for not demanding.
ajay sethi
(Expert) 16 August 2012
bank advocate is justifed in his demand . it is necessary to produce orginal documents of title to verify the same . bank has to be satisfied you have clear title to property
malipeddi jaggarao
(Expert) 17 August 2012
Previous original sale deed is the link document. To verify the genuine passing of title to the holder the advocate has to go back to the history of passing the title for 13/30 years (period depends on the norms of individual banks). However, it is not all to verify the passing of title. One can apply for EC (Encumbrance Certificate for 13/30 years and verify the passing of title. If the advocate entertains any doubts, he can apply for verification of books in the concerned sub-registrar offices. Mere insisting is not against the rules, as it is the system and hence your advocate is right in asking for the document. In your own interest you ask the seller to provide it if possible. If not possible, you can represent to your advocate as above. He can give his opinion mentioning that the previous original deed is not submitted, but he had verified the title by obtaining the EC and inspecting the Sub-Registrar's records. Banks will accept such deviation.
prabhakar singh
(Expert) 19 August 2012
The deed of 84 is important and so is the demand.In case it is loosed a publication and FIR is the necessity.
