Danish (Associate Consultant) 08 March 2020
Advocate Suneel Moudgil (Advocate) 08 March 2020
facts are not sufficient to revert your query,
you need sale agreement or loan agreement,
why the bank stand is concerned? property is mortgaged?
G.L.N. Prasad (Retired employee.) 08 March 2020
The involved relationship in issue is the purchaser and seller and no individual personal relationship. Contact the standing counsel of the Bank with whom the borrower wishes to avail such a housing loan, and get a draft suitable for the purpose of the Bank. The bank, to my knowledge, accepts only the sale deed and not agreement to sell between two close relatives with such conditions which is not material for their finance and even poses a risk to their money advanced.
Dr J C Vashista (Advocate) 08 March 2020
Before contacting any financial institution / Bank for home loan title (ownership) of the property has to be transferred in the name of mortgagor / purchaser.
Foirmat of Sale deed is available with local Deed writers and lawyers where you want to get it registered.
It is better to consult a local prudent lawyer for appreciation of facts/documents, professional guidance and necessary proceeding.
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