Transfer of Mortgage property after death of property owner

It is believed that you are all Hindu.

Confirm!

The death of owner triggers onset of inheritance per personel laws that apply.

The property is secured/mortgaged with lender.

Till debt is fully paid charge on property is with lender. The lender can rcover the debt from estate (s) of deceased.GO the loan agreement carefully.

Rather obtain certified copy of loan brochure, loan offer,loand sanction,loan agreement,loan statement etc etc.

As you are Paying obtain proper acknowledgment and maiantain records.  

The lender may not agree on any attempt to alienate.

1st:Inform the lender about death and supply the death certificate.

If the debt was covered by some insurance policy the lender should agree to offset the amount covered by policy and rest can be paid by successors/legal heirs.

The payment of debt by you alone is a matter between all successors/legal heirs and lender.

Try to strike a family agreement.

If all other legal heirs agree to relinquish their share in yoyr favor then after the debt is full paid/NOC is obtained you can become sole owner.

Let a very able local counsel/law firm of unshakable repute and integrity specializing in revenue/family/property/civil  matters counsel you and draft your agreement to defend your long term interest.

I think NOC from Bank will be sufficient to alienate the property in your name 

The Bank is not any authority to mutate property in anyone’s name.

The bank as lender has 1st charge of deceased borrower’s property.

If debt (balance. May be after adjustment of proceeds from insurance policy) is fully paid, bank shall issue FnF statement, NOC.

The proeprtty is then open to inheritance/inheritors.

Check with the bank shall it release the title deed/property papers to you if you settle the whole debt?

Or you shall become the owner if you pay the whole debt?

After full repayment, to whom the original title deeds will be handed over by the bank .

Check with Bank.

IN case of any dispuste made known to bank it may send the matter for legal opinion and ask to bring succession certificate.