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release of registered mortgage - format (Legal Documents)

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This query is : Resolved

Author : sridharan v

Posted On 04 June 2008 at 11:15

Dear Sirs,
can u e mail me a format for releasing
a Registered mortgage created in favour of
a bank as the loan has been fully paid back.



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Expert : Member (Account Deleted)

Posted On 04 June 2008 at 12:48

Each Bank will have their own set of proforma deeds. I suggest you take one from tha concerned bank do it. Otherwise they may not acccept your document. In case you need one please write here I will get you one.

Expert : SROTAS -Global Legal Services

Posted On 04 June 2008 at 13:04

If the mortgage is created in any nationalised bank, it is the duty of the concerned bank to issue no dues certificate to you after you pay the entire dues. You have to produce the certificate before the concerned Registrar where the mortgage is registered. Only Redemption deed has to be filed. No need to file seperate release deed. If the bank is particular about the release deed. Please inform. I will send one draft deed.

Expert : Rajesh Sharma

Posted On 09 June 2008 at 05:25

Dear Mr.Sridharan

Once the loan amount is repaid, it is the duty of the bank to release the title documents of the mortgaged property together with "no dues" and "non-encumbrance certificate". There is no need to execute any fresh release deed for getting the property released from mortgage. Please also ensure whether it is an equitable mortgage or any other kind of mortgage before proceeding further.

Expert : Hiralal Das

Posted On 06 April 2009 at 17:32

Thanks all of you.
I do agree with views and/or valuable opinions of our ld. members/friends.



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