13 year title search

Querist : Anonymous (Querist) 02 July 2018 This query is : Resolved
Hi

I want to know why 13 year title search is mandatory to mortgage a property with a bank/hfc

By which law 13 year is decided

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kavksatyanarayana (Expert) 02 July 2018
All the details of any transaction on the property will be listed in it. It is important for you to get this certificate. In all cases, governmental authorities will insist on a 13-30 years encumbrance certificate.13 years search is not mandatory. some banks need 30 years search for sanction of loan.

Querist : Anonymous (Querist) 02 July 2018
most of the banks do 13 yr search

why 13 not 10 15 20...from where 13 yr figure originated n why

Ms.Usha Kapoor (Expert) 03 July 2018
It is based on doctrine of adverse possession. Earlier continuous, uninterrupted peaceful possession for 13 years was en0ough for a non owner in possession of the property although he is not the owner of the property to set up his title adverse to the true owner. Now they have made it 30 years.

Ms.Usha Kapoor (Expert) 03 July 2018

i STICK TO MY ABOVE VIEW.

Ms.Usha Kapoor (Expert) 03 July 2018
I stick to my above view.

P. Venu (Expert) 03 July 2018
In my knowledge, it is thirty years' search to take care of any subsisting encumbrances.

Ms.Usha Kapoor (Expert) 04 July 2018
I stick to my above view.

Ms.Usha Kapoor (Expert) 05 July 2018
I stick to my above view.

P. Venu (Expert) 05 July 2018
Ms.Usha Kapoor:

Kindly spare us from valueless postings!

Querist : Anonymous (Querist) 07 July 2018
not getting satisfactory answer..i am a bank employee and dealing in mortgage from last 4 yrs ,,worked with three organisation in same field ....all organisation conduct 13 yr search ..i am ery curious about 13 year figure it is odd in some kind

Ms.Usha Kapoor (Expert) 11 July 2018
I stick to myabove view.

13 year title search

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