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Malhar Pathak   16 July 2018

Does register WILL document is enough for loan?

Hello,
We have a property which is registered on my grandfather name, who wrote a bill to divide the property equally to his sons (between my uncle n my dad).

We all have to came to agreement that I'll take the property by paying certain amount to my uncle and his family through a relinquish deed. Also, I'll have to apply for home loan after settlement is done.

To execute relinquish deed, do we need to execute partnership agreement deed aswell. Does Registered Will document is not sufficient enough?



Learning

 2 Replies

Adv Deepak Joshi +917017821512 (Advocate)     16 July 2018

No, loan cannot be granted on the basis of WILL, you need to apply for mutation and get it done in you favor.

No need for entering partnership deed for signing relinquish deed

 

1 Like

N.K.Assumi (Advocate)     16 July 2018

Agree with Deepak. Will becomes effective only on the death of the testatot/ress, as such Bank cannot rely on such doduments.

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