Hi,

After death of my husband, i didnt recieve the insurance of our joint home loan. The property is joint in the name of me and my husband. More than 75% loans needs to be repaid. Banking is asking me to repay the whole loan as I am the widow and joint borrower. But they said, they will require NOC from my mother-in-law, when returning the original document. I requested my mother-in-law to provide the NOC, i will pay her 25% of the money we already paid for the property. She  doesnt care and happy that I will in trouble.

My in-laws are very rich and have many properties and this is the only house I have. Can you please let me know how can I solve this matter?

1. How can I make my mom-in-law to provide NOC?

2. How can I get succession certificate to get the original document from bank. I am sure, my in-laws will not leave any gap to create problem for me.

3. Is there any way to take it up with Bank? Bank can pay thier money to them(i will pay to bank) and give me the doc.

Thanks

Hi,

As per ur query u should approach Court and file a Probation and Sucession Cerificate case and obtain a order stating that u and ur children are the legal heirs of ur husband and that would be enough for the bank to hand over the property to you.

Regards.

Anoop

Advocate

contact to personally with a advocate and file case for getting succession certificate ,

when file case in court than inform to bank also.

Its take some times but your problem will be solve.

Thanks Anoop and Prajapati. If I file case for getting succession certificate, the court will send Notice to In-laws and will give them an opportunity to create problem. What will happened if they reply to court with objection? Will tehre be a position for me to keep the house in both name? I am scared of this. Please let me know.

Your mother in law is eligible  to get one share of property relating to your husband along with you and your children even if it is in joint names if it is ancestral property.  If it is self acquired property of both of you, then your MIL have no right on it.

However, whatever be the case, the bank has no right to say it needs NOC from your Mother in law to give back the documents to you if you repay the loan.  Your mother in law is not a party to the transaction between both of you and bank. The property remains in the names of the same people that it was registered with when bank releases documents. After that if your MIL has any claim on it, she can claim it through filing a suit from court of law.  How bank is affected by your MIL to say "I won't release your documents if your MIL don't give NOC"?  What way bank is related to your MIL? 

Lodge a complaint with Ombudsman of Reserve Bank of India if they say like that.  It is nothing but a rude example of red tapism in Indian Banking System.

I beg to differ by the opinion given by shri chandrashekhar.

Even if the property is self aquired property and there is no will by the owner, mother becomes legal heir to the property of his son.

Knowingly fully well the borrower has expired and the bank has every right to ask for NOC from the legal heirs of the property/borrower.

Lodging of complaint would be of no effect to the bankers.

Please see the banker is asking for NOC from the co owner and there is nothing wrong in it.

If the applicant is not interested for family settlement, suit for parrtition may be one of the solutions.

-repost-

1. How can I make my mom-in-law to provide NOC?

2. How can I get succession certificate to get the original document from bank. I am sure, my in-laws will not leave any gap to create problem for me.

3. Is there any way to take it up with Bank? Bank can pay thier money to them(i will pay to bank) and give me the doc.

--------

You need not take NOC from your MIL and give it to bank.  I tell you the way.

You allow the loan account to become NPA.  Bank will initiate SARFAESI proceedings against you as you are co-obligant/surviving borrower.  Tell the bank to sell off property by fixing Reserve price through a private treaty to the person shown by you.  The person shown by you will be your son. Bank will sell the property to your son through private treaty and as borrower you will have no objection to it.  Bank does not require NOC of your mother to sell mortgaged property through SARFAESI proceedings. 

Remaining 75% amount will be recovered by bank by appropriating the sale proceeds to loan account.  It will issue a Sale certificate in favor of your son in accordance with Security Interest (Enforcement) Rules, 2002.  Loan is repaid and your property will never be touched by your MIL too. 

It is a 2BHK and partition of one single house is not possible. Again, I dont want them to co-own the apartment with them and give them a chance to create trouble for me. It will be a security problem with my life itself.

I am ready to buy thier part from them itself. How can I make them for the same?

In another note, if I ask bank to sell the apartment, what will happened to the money we already paid?

You need not buy from them, you need not co-own and share apartment with them, you need not take NOC from MIL if you do the way I said.  Without spending a single paisa, you can get apartment in your name and delink them totally from that property. 

What happens to money already paid to bank?

Say you have raise a loan of Rs.8.00 lacs.  As on today Rs.7.50 lacs is outstanding and you have paid Rs.2.50 lacs towards loan).  If you avoid payment of instalments bank will declare your account as NPA with in 3 months.  And tell them to serve SARFAESI notices and take possession of that apartment.  They have several options to sell the property and appropriate towards loan amount.  One is open auction, other is private treaty, sealed tenders etc.  For entering into private treaty with some third party, they need your consent.  For open auction and sale through sealed tenders they don't need your consent.  Bank prefers private treaty because it is easy process they don't have to conduct auction give sale notice paper advertisements etc. 

Some banks tell the borrowers directly, "if we sell your property through auction, you may not get the desired price for your property, so you get the buyer yourself and get it sold by marketing your own property for best price".

So in that process you will take the buyer to bank and tell the bank this person is ready to buy the property for Rs.10 lacs.  Bank's outstanding dues is Rs.7.5 lacs.  It will appropriate Rs.7.5 lacs towards loan and give off rest of the amount to the borrower i.e. you. Rs.2.5 lacs you have already paid is credited to loan account it has not gone anywhere.  Try to understand.  Over and above loan amount of some sale proceeds remain the bank will give it off to the borrower.  

Bank gives sale certificate to your son and it becomes his "self acquired property".  The sale certificate issued by bank in favor of your son will be free from any sort of encumbrances. Nobody has a right over your son's "self acquired property" including your MIL.  That way you will get relieved from your MIL's claims over her son's property.  After some period of time, say six months or a year, take the son's property in your name through some gift deed/sale deed.

I am saving you at least Rs.50000/- rupees advocate fees and Rs.2.50 lacs that you wish to pay to your MIL.

The procedure I suggested is absolutely legal.