regarding transfer of property

sujoe (Querist) 28 January 2010 This query is : Resolved
hello ,
My father passed away last jan.He leaves behind wife and two sons as legal heirs.. He had pledged one of his property to claim amount from his chit fund and one property to the bank for house contruction. now we wanted to register the property to our names. since the the orginal document is with the company and bank how can we register it?
the other question is since the loan amount was given to my father , me and my wife stading as gaurnteer can i transfer the the loan to my name.?
thank you.
sujoe

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B K Raghavendra Rao (Expert) 29 January 2010
To register the properties into your (your mother, yourself and your brother jointly) name, you need succession certificate obtained from a competent jurisdictional civil court. After obtaining the succession certificate, it has to be registered in the office of the Sub-Registrar. You do not need original documents for registration purposes.

It is possible to get the loan transferred to your name. Approach the lending bank with an application stating the facts. They would prefer to transfer the loan into your name, if you are employed and has a good monthly income,of course subject to formalities.

Guest (Expert) 30 January 2010
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