Legal Question in Real Estate Law in India

Loan from Indian Bank

Hello sir/Mam.

I m Baby s. Paul. I need a loan from Indian bank of Rs. 500000. The Problem is of Property on which i m taking the loan. The said property is in the name of my Late Husband and sister in law. She is ready to release her right from the said property in favour of me and i hv already enterd my name as heirs of the deceased in the Property card. the said bank asking me to produce her Power of Attorny in favour of me . But my sister in law resinding at Chhenai and unable to cm as she is working in the Railway Department. I m working in the same department at Valsad in South Gujarat. So help me how should i pass my loan and how to preoceed. Thank you


Asked on 4/30/08, 9:11 am

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

Re: Loan from Indian Bank

If your sister-in-law had released her rights by registered documents, then there should not be any problem.

You can meet legal department of the Bank and have the matter clarified to Bank.

Else, you can travel to Chennai and have Power of Attorney made in your name.

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Answered on 5/01/08, 2:13 am
Homi Maratha N.N. Maratha & Co.-Advocates

Re: Loan from Indian Bank

You may get an Power of Attorney executed at Chennai.

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Answered on 5/01/08, 2:50 am
Sachin Sangare Private Practise

Re: Loan from Indian Bank

Just go to Chennai & get Power of Attorney executed at Chennai.

As there in so other option, you have to take pains for doing it.

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Answered on 4/30/08, 9:39 am
Divyesh Gandhi Bipinchandra B. Gandhi

Re: Loan from Indian Bank

Your have to make Power of Attorney and Send it via post or else to your sister in law for Notorised Registration. After you Received Registered Notorised Power of Attorney from you Sister in Law. You also have to Notorised your part @ Valsad.

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Answered on 4/30/08, 10:24 am
Vivek Mapara Vivek N. Mapara

Re: Loan from Indian Bank

If your sister in law is ready to release her right in your favour, then you become the absolute owner of the property. Then there is no need for Power of Attorney. However, your sister-in-law has to come to gujarat and get the deeds executed and registered here.

In othercase your sister-in-law can give you power of attorney to deal with her share in the property. For this your sister-in-law does not require to come personally to Gujarat, she can get the power of attorney prepared there in Chennai, get it registered, and then send it to you.

I am Practising Lawer in Gujarat High Court. If you have any query, then feel free to contact.

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Answered on 4/30/08, 2:24 pm


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