MORTGAGE
MAHESH
(Querist) 10 August 2010
This query is : Resolved
Dear Brothers, this is in continuation of my earlier query i.e.,
{A and B being husband and wife owned certain house property wich is their self acquired property and the same is opined by the Bank also (panel adv of bank) and during raising house loan, A and B impleaded C also as one of the co-applicants for the said home loan. Now A and B want to implead D also as one of the co-applicants for which C is not consenting. Only A and B moved application to Bank to implead/include D as one of co-applicants alongwith A,B and C (But without consent of C), the Bank rejected the request saying that they need the consent of C also. Is the act of bank is valid since the house property is solely/exclusively owned by A and B. D is ready to implead himself for the same.}
and I am convinced with your view that the act of bank is right.
Now if the entire loan amount is repaid to the Bank then
1). will the Bank hand over the original title deeds of house property to A and B in absence of C ?.
2. What if C dies ?
Further C has not contributed anything towards repayment of loan.
s.subramanian
(Expert) 10 August 2010
the bank has to hand ovr the title deeds only to a and b who are the prinicipal borowers. the absence of a co-obligant is of no consequence.
