I am in the process of purchasing a property in Madurai, that belongs to Tamil Nadu Government Employee who worked in Madurai collector office and need expert opinion regarding mortgage release
Back ground:
1967 TNHB allocated a property as per allotment letter and agreement for sale to above said Govt Employee
1978 later that employee got Grant of Advance for House building based on Mortgage deed registered with Madurai S.R.O .
1990 Eventually he retired from service and after 6 months expired
1992 -then district collector signed in back side of original mortgage deed “ As the mortgage deed is discharged since Loanee has repaid all money” . (Presumed money deducted from P.F) However that loan discharge certificate was not registered in S.R.O as “Mortgage release”
1995 TNHB executed “Absolute Sale deed” to wife of expired govt employee and wife also expired and her legal heirs are processing to sell that property.
Applied for Existing EC documents states the property is in the name of wife of (expired govt employee) however the mortgage deed entry appears in EC in 1978 .
Clarification
Regarding that, I approached for legal opinion with renowned lawyer in my city, has given written legal opinion in favour of purchase/sell , since collector has signed no pending loan although it is not registered (release of mortgage)with SRO.
However another lawyer asks to register mortgage release deed before purchase.
Meanwhile asked sellers (legal heirs) they are reluctant to pursue release registration , since that may take more time.
Request forum experts opinion, since this property cost is significance don’t want to regret later.
