Information regarding relinquishment deed or release deed
Priyesh
(Querist) 13 March 2018
This query is : Resolved
Respected Experts, I am Loan Consultant as a Profession one of My Client want to take a Home Loan under Scheme Pradhan Mantri Awas Yojna. There is a missing of sales deed of that Property which is done in favor of his Grandfather in the Year 1985. He inherited property by his father. They are Two brothers and three sisters in family after his father. They make a Release deed in favor of his one brother in registrar. Now He want to take a Home Loan my question is that Release deed is a valid document for taking a Loan. I also verified that there is no charge created on that property in City Survey Office and in Nagarpalika and also in Registrar. So is He eligible to make a equitable mortgage of property on the basis of that relinquishment deed or release deed? Suggest me a way to deal with that case. Thanking You all.
Vijay Raj Mahajan
(Expert) 13 March 2018
Property fraud is all time big game, always remember this. The original sale deed in favour of grandfather missing, now that is the big issue, was the missing or stolen sale deed registered as FIR with Police? The person seeking loan just on the basis of release or relinquishment deed signed by other heirs as document for mortgage may be carrying the original sale deed that he may use later on to sell the property to third party without the information to the creditor from whom loan was taken. Hope this person doesn't turn out to be another Vijay Malaya or Nirav Modi?
Priyesh
(Querist) 13 March 2018
No sir there is no charge on that Property.
Vijay Raj Mahajan
(Expert) 13 March 2018
Maybe not now, but afterwards if sale of the property done by using original sale deed of grandfather?
Priyesh
(Querist) 13 March 2018
Actually His Grandfather is no more.
kavksatyanarayana
(Expert) 14 March 2018
If the document relate to his grandfather was missed, at present obtain a copy of the said document from the Registrar office where the document was registered. next for relinquishment/release deed, all the legal heirs shall execute relinquishment/release deed and get it be registered. off course it was done. Did all the legal heirs sign in the deed? and if all the legal heirs signed in the release deed then they will have no right over the property. if the above points are ok, he may be granted loan if it is otherwise in order.
Priyesh
(Querist) 15 March 2018
Thank You very much sir
Kumar Doab
(Expert) 17 July 2018
'Buyer Beware' applies to property deals.
It shall be appropriate to get proper legal opinion from a very able LOCAL senior counsel of unshakable repute and integrity specializing in revenue/property/civil/DRT matters and well versed with LOCAL applicable rules/laws and having successful track record…. and worth his/her salt , before signing or making payment.
This may cost some FEE but can defend long term interest and hard earned monies
