Release of sale deed documents pledged to coop bank
prbkumar46
(Querist) 01 July 2012
This query is : Resolved
Sirs',
My wife took a mortgage loan from a coop bank. By pledging/ mortgaging/promissory note her residential flat deed document. Unfortunately she died 2months ego. I have paid the balance amount with interest and I asked them to handover the document to me as I'm her husband and the first legal heir. They told me that all the children are. Also to come and sign in the register to receive the document. I thing normally it is the practice to take nominees details also to enable them to release the document in case of death/ insane.
Will you please give me your valuable advise.
Thanking you in advance and regards.
ajay sethi
(Expert) 01 July 2012
flat was in name of your wife . on her dying intestate you along with your children have equal share in the flat . the bank is justifed in asking all legal heirs to com eand sign documents to take away the orginal documents .
K.K.Ganguly
(Expert) 03 July 2012
The Bank is right. You are not the only heir of her property.Nominees are custodians but not necessarily the heirs.
malipeddi jaggarao
(Expert) 04 July 2012
There is no facility of nominee in loan accounts. You and your children should a valid acknowledgement having received the property document that too after producing the death certificate and legal heir certificate. Bank is right in its action.
