Legal Question in Real Estate Law in India

my grandfather has taken loan against property from Bank
my granfather has 4 children 2 sons and 2 daughters.
My Father and uncle have repaid the loan amount now i want to know procedure for closure of loan..???
Also tell bank will handover original property documents to whom as original owner of property (my grandfather) has died.

Asked on 6/11/13, 9:05 am

Fca Prashant Chavan Expert Edge LLP

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12.06.2013

Dear Sir / Madam,

The bank issues a certificate of the loan account having been cleared and closed.

If your grandfather has left behind a Will, the bank will handover the original property documents to the beneficiary named in his Will.

Regards,

Answered on 6/12/13, 3:14 am

Shrichand Nahar S.V.Nahar, Advocate

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Upon repayment of loan, it is closed.

Please complete other formalities like release of mortgage, original documents etc.

Answered on 6/13/13, 4:41 am

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