Legal Question in Real Estate Law in India

Dear LG,

I want to know if one has a mortgage loan on his immovable property from a nationalized bank, and he wants to pay the entire loan and closed it, so what are the things are to taken care, what legal papers are to do, what all to do so the property is safe after loan is pain and there is no any claim from the bank or anyone on the property.

thnks

Sunil Birmiwal


Asked on 6/04/10, 10:53 pm

2 Answers from Attorneys
Shrichand Nahar S.V.Nahar, Advocate

Alongwith repayment of loan, borrower need to obtain necessary release/discharge of mortgage. Be guided by your lawyer in this behalf.

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Answered on 6/05/10, 11:04 pm
Sudershan Goel India Law Offices of Sudershan Goel - Advocate

You may just need a receipt for repayment of loan and return of property papers mortgaged with the bank.

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Answered on 6/06/10, 11:51 pm


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