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Refusal of documents by bank

(Querist) 22 October 2014 This query is : Resolved 
'X' had four sons and one daughter. The eldest son 'Y' bought a house in name of his father. 'Y' took a loan on that house from the bank and after some time 'Y' made an unregistered will in his name. After few years, 'X' expired. For the safety, 'X' also made a registered haq-tyag patra signing from his mother, brothers and sister.As years passed, the installments were completed. When 'Y' went to take the property papers, the bank refused to give and asked for the registered will else a name transfer certificate. Is the bank right on this issue.
V R SHROFF (Expert) 22 October 2014
Bank's routine job with full fledge LEGAL DEPT.

BANK IS RIGHT.
Devajyoti Barman (Expert) 22 October 2014
Yes, bank often ask for the same and it is its discretion . It is better for you to handover the documents.
Devajyoti Barman (Expert) 22 October 2014
Yes, bank often ask for the same and it is its discretion . It is better for you to handover the documents.
Devajyoti Barman (Expert) 22 October 2014
Yes, bank often ask for the same and it is its discretion . It is better for you to handover the documents.
Devajyoti Barman (Expert) 22 October 2014
Yes, bank often ask for the same and it is its discretion . It is better for you to handover the documents.
K.K.Ganguly (Expert) 23 October 2014
Yes, the Bank is right in this regard.
Rajendra K Goyal (Expert) 23 October 2014
What is the problem in giving the documents to satisfy the bankers?
Kumar Doab (Expert) 23 October 2014
Since X is owner Y May show originals and bank can mark OSV.
T. Kalaiselvan, Advocate (Expert) 23 October 2014
There is nothing illegal about it, you may have to adhere to the bank rules in this respect and if you a peaceful possession, better comply with the requirement.
malipeddi jaggarao (Expert) 25 October 2014
Property title documents will be released to the owner of the property. In this case the owner of the property is dead. All the legal heirs should jointly give discharge for taking the documents after producing legal heir certificate.
Aakash Singhal (Querist) 01 November 2014
there is no problem in submitting the required documents. The property which I have mentioned above is a freehold land and the housing board says that they do not transfer the name in cases of freehold land, they only transfer the name in cases of leasehold properties. I want to ask whether the raj. housing board right in this case. Also the probate letter is taking too much time and i want the property papers as soon as possible as i am getting a loan from the different bank.
malipeddi jaggarao (Expert) 02 November 2014
Bank does have the right to insist for name transfer certificate if the documents are deliverable to all legal heirs at their request. Probate will not take too long. The only concern for the Bank is - that it should not deliver the documents to a wrong person, otherwise it will be implicated by the rightful owners in legal battle. All of you together can request the Bank that you need the documents urgently and all the legal heirs will execute indemnity if need be.
Aakash Singhal (Querist) 02 November 2014
Sir, Actually the will I have mentioned in the beginning is registered in the NOTARY REGISTER and I have heard that this register is checked by the government authority. Also in that will it is written that his legal heirs are wife, daughter and 4 sons. And the haq tyag patra made by the eldest son. So are these documents not enough for the evidence?
malipeddi jaggarao (Expert) 03 November 2014
Notarized will is equivalent to unregistered will. Apply for probate and submit to the Bank. It will not take much time.


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