bank missed the documents

Querist : Anonymous (Querist) 25 February 2010 This query is : Resolved
I took a loan from SBI for buying one property.For that purpose I submit the below documents to the bank.
1.original sale deed
2.prior deeds of the property
3.power of attorney of the seller(the original seller was abroad)
4.Possession certificate
5.encumbrance certificate
The bank lost all the above documents except the first one.My question is can it make problems in the future if the previous deeds of the property is lost.what necessary action I can take in this regard.Is a copy of prior deed is valid.

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Raj Kumar Makkad (Expert) 25 February 2010
You have nothing to lose in case the previous sale-deeds are not found as latest deed shall only prevail.

You can just make written complaint to the bank and can claim compensation and actual charges to be incurred for obtaining duplicate copies of all those documents, if you want to get through the office of registrar.

Guest (Expert) 25 February 2010
i do agree with Mr Makkad

B K Raghavendra Rao (Expert) 25 February 2010
In case you want to borrow bank loan or you want to sell the property, the bank or the purchaser would ask you for all the sale deeds. It is only to trace the flow of title and ensure that the property has marketable value. If the prior sale deeds are to disclose any fraud in sale or legal invalidity, then your title would become shaky.

Therefore, prior sale deeds are essential.

Necessary action you can take is:

a. File a case against the bank for compensation in a consumer court for the loss of title deeds

b. You may obtain certified copies from the Sub-Registrar's office however, loans would not be granted upon deposit of certified copy title deeds.