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Arunkumar (Associate)     30 June 2014

Problem in applying mortage loan from bank

Hi, i have applied for mortage loan on which i have recieved property on WILL from my grandmother(Father's Mother) where my father died before 22 Years. I am 26 years now. When i applied for mortage loan in bank, the bank manager is telling that all the siblings for my father has to come and sign on the application form for agreeing the loan. My Grandmother has 4 daughters and 1 son(ie. My Father). All the daughters recieved their properties before 10 Years as their share. My father's sisters are not willing to come to bank for agreeing and signing in the application for loan because of quarrel between us.NOTE:( All the property given in the WILL has already transferred to my name.)Y WILL MY FATHER'S SISTERS REQUIRED FOR THIS LOAN APPLYING AS ALL THE PROPERTY HAS ALREADY TRANSFERRED TO MY NAME??   IS THERE ANY ALTERNATE PROCEDURE TO APPLY FOR LOAN??



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 1 Replies

G.L.N. Prasad (Retired employee.)     01 July 2014

WHEN THE  property was in your name and possession through a will, absolutely there should not be any objection for the bank, particularly if it is in your possession for more than 12 years.

Try in another Bank or consult that Bank''s Advocate and get his opinion.  After all a Bank Manager is a generalist and not a professional.


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