Property inheretence by relenquishment deed
Sheep
(Querist) 21 October 2013
This query is : Resolved
I have inherited a free hold property (plotted house) of my father by way of a registered Relenquishment Deed in my favour given by my 2 sisters and my mother which was made on Oct 2012.This property was also mutated in my name in the MCD records in the year 1980.
Recently I approached a Bank for availing a loan against property.I showed them the complete chain of property documents.However the Bank is asking for a surviving member certificate from the SDM office after the death of my father who expired in 1980.
Can somebody please guide me why Bank is insisting on this document.
Is my ownership title to the property defective.
Guest
(Expert) 21 October 2013
I am convinced after reading your case again and again that the Bank is justified.
ABDUL RAZIQUE
(Expert) 21 October 2013
ACCORDING TO ME there are two question about your title
1) how many portion of land mutated in your name in the year 1980
2) after execution in Oct 2012 are you mutated the said share in your name or not.
if you earlier recorded all the share in your name and their after you got share from your mother and sister,that means something wrong and your title is defective.
Sheep
(Querist) 21 October 2013
Thanx for your response.
In 1980 after the death of my father the complete property was mutated in my name in records of MCD.I am told this is only for payment of corporation tax and property ownership is not transferred.
In year 2012 the legal heirs of my father ie my 2 sisters and my mother gave a registered relinquishment deed in my favour for their share in property.Hence 100% share in my property is relinquished in my favour (which includes my 25% share also).
What is the purpose of Bank asking me for a surviving members certificate from SDM office????
ABDUL RAZIQUE
(Expert) 21 October 2013
this is a matter of banking, it is better to ask GM of bank, he may be help you.
malipeddi jaggarao
(Expert) 22 October 2013
In relinquishing deed a narration to the effect that who are the surviving members of your father must have been recorded. You must be having legal heir certificate which shows the names of the legal heirs of your father. In fact this sufficient for the Bank. Whether your loan request is accepted and the Bank referred the property documents to the Bank's advocate for verification of title or not? Whether Bank is asking the certificate or the bank's advocate? If Bank is asking you can show the relevant clauses and submit the legal heir certificate (which you must be in your possession already) and tell them that there is no defect in title. If the Bank's advocate insists, the reason must be he wants to be more careful to see that whether all surviving legal heirs have joined in executing the relinquishing deed. You can make proper representation and convince the Bank. You can represent to them that all the persons who joined in the execution of reliquishing deed and you, will give an affidavit to that effect that there are no more legal heirs to doubt the relinquishing deed.
Banks some times are not aware of the solutions and they are over-enthusiastic. Only way is to convince them that your title to the property is absolute, trouble free and marketable.
Ms.Nirmala P.Rao
(Expert) 22 October 2013
You get the death certificate of your late father from Municipal Authorities and also legal heir certificate from District Court along with other documents in support of your title such as nil encumbrance certificate and property tax receipts in your favor etc and produce them before the Bank. If you wish to thank me for this reply please click the Thank You button on my profile.
Anirudh
(Expert) 22 October 2013
Dear Sheep,
Whenever anybody dies, one has to apply for and obtain a Legal Heir certificate from the Tehasildar concerned. This certifiate will indicate the names and relationship with the deceased of the complete list of legal heirs, who are alive.
Only on the basis of the said legal heir certificate, can one come to know whether all the legal heirs have relinquished their shares or not, or anyone has been left out.
Thus, it is not enough that you say that your mother, and your sisters and you only are the legal heirs. The authenticity of your claim have to be supported by the Legal Heir Certificate granted by the Tehasildar / SDM of your area.
That's why Bank is insisting on such a certificate.
ajay sethi
(Expert) 22 October 2013
agree with anirudh
Rajendra K Goyal
(Expert) 22 October 2013
Very well explained by the expert Anirudh ji and other experts, Without proper legal heir certificate Bank can not know whether all other legal heirs have relinquished their rights or not.
Rajendra K Goyal
(Expert) 22 October 2013
Repeated query:
http://www.lawyersclubindia.com/experts/Property-inheretence-339056.asp#.UmYt8xCLq_I
http://www.lawyersclubindia.com/experts/Will-for-property-inherited-against-relenquishment-deed-344711.asp#.UmYuGRCLq_I
Raj Kumar Makkad
(Expert) 23 October 2013
No reply against the repeated query even on my side.
