Creation of mortgage

Querist : Anonymous (Querist) 05 January 2012 This query is : Resolved
When we have taken a housing loan proposal, The party's father on whose name the property is registered has already expired and the party's mother is alive. Now the party said to be mutated his name in revenue records with the consent of all the legal heirs. Now the party applied for housing loan against the property. In legal opinion obtained, it is suggested that the bank can create equitable mortgage by taking signatures of party and his mother or by obtaining no objection certificates from all legal heirs(including party's sisters)and by obtaining latest sandaran khasra.Now my query is whether we can create equitable mortgage with the registered deed which was in the name of party's father? Latest sandharan khasra is valid and moot document? How to proceed?

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Devajyoti Barman (Expert) 05 January 2012
After the death of original on intestate his legal heirs become its owners. The issues of mutation does not make much difference.

Here one of the co sharers can transfer her undivided share. However since all others are also not objecting then the bank has no problem to disburse loan on its mortgage.

malipeddi jaggarao (Expert) 06 January 2012
The advice of your advocate is correct. In addition, you obtain the legal heir certificate of the deceased party and take consent (affidavit) of all the legal heirs giving no objection for claiming the title by the son on the basis of mutation.