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Sajjad (NA)     30 March 2013

Deed of conveyance

The building where I am buying a flat has not executed the Deed of Conveyance, however a Condominium Society has been registred and formed.  This means each individual owner does not have a Deed of Apartment.  I am trying to get a home loan through a bank and they are insisting that i get a Deed of Apartment.  The Society is in the process of getting the Deed of Conveyance, however not done yet.

In this case what other legal document can be executed between buyer and seller so bank will feel thier risk is lower and give me the home loan.



Learning

 1 Replies

Hemang (Advocate)     30 May 2013

Mother sale deed, sale deed, letter of allotment, possession letter, share certificate, completion certificate of the building, approved plan, the revenue record etc.. may be obtained and placed before the Bank sanctioning the loan. Generally, the Lawyer for the Bank Branch, through the Branch Manager would advise as to what are the papers required by the Bank for the purpose of Housing Loan. It is better, you ask the Bank Manager and request for the list of documents that may be required. 


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