Legal Question in Banking Law in India
My father has an UDR patta in TN. He was gifted me the property through Gift settlement. I approached a bank for the loan against property. The bank lawyer asked me a Release deed(Registered) from my brothers and sisters. Then i got that and i submitted to him. Afterthat he gave me the legal opinion and i submitted to the bank manager. Now the manager is asking a Release deed from my father's brothers and sisters. Is that necessary? my property is legal or not?
1 Answer from Attorneys
11.02.2017
Dear Sir / Madam,
The Bank is legally entitled to verify the Property documents along with the antecedents of the said Property, prior to approval and sanction of the loan against that property. This in no way implies that your property is illegal. If the property is already registered in your name in the record(s) of the local Municipality / Talati / Tehsilar / Vattatciyar as a result of the Gift Deed executed by your father, you may submit self attested copies of those Government papers to the Bank for consideration of your loan proposal.
Regards,
Related Questions & Answers
-
Hello sir , i am dr rohit jain presently have been accused of indian penal code 498... Asked 2/08/17, 10:20 pm in India Banking Law
-
I became a guaranter for a pmegp loan.now the loan taker not paying emi. So bank... Asked 2/08/17, 8:49 pm in India Banking Law
-
My cousin sister have the FD of 60000 when she is minor. My uncle and aunt both are... Asked 2/08/17, 4:04 am in India Banking Law
-
If Datta given the bearer cheque to Raj XYZ as name(pay to). Raj has some urgent... Asked 2/08/17, 2:09 am in India Banking Law
-
Sir, my brother is not a govt employ in bank, he is a worker in BCpoint ( business... Asked 2/04/17, 8:34 am in India Banking Law
Looking for something else?
10,200 active attorneys ready to answer your legal questions today.
Featured Attorneys
Earn additional revenue and grow your business.
