regarding bank loan
Querist :
Anonymous
(Querist) 11 April 2011
This query is : Resolved
Hi All,
I have a property which i got through unregistered will . That will was executed (written) on my name before my birth took place and the person who wrote the will expired before my birth took place.
I have the death certificates and legal heir certificates.
Now i approached a bank to give housing loan to construct a house . But they are saying that they stopped giving loans based on wills (whether it is registed or unregistered).
Can you please tell me how should i approach the problem ? how to get bank loan ? how to get documents of property converted to my name ?
R.Ramachandran
(Expert) 11 April 2011
Please indicate where is the property situate?
When did the person who made the WILL die?
When were you born?
Now the property is in whose possession?
Is there any other relatives of the person who made the WILL, alive now and if what is their relationship with the deceased person?
Querist :
Anonymous
(Querist) 11 April 2011
Hi Ramachandran sir,
my property is situated in karnataka
that person died in the year 1980
I am born in 1983
property is in possession by me only. no one else is there.
no one is alive of that time.
Guest
(Expert) 11 April 2011
KINDLY NOTE THAT,
1.YOU MAY SUBMIT APPLICATION TO THE CITY SURVEY OFFICER IF THE SAID PROPERTY IS HOUSE PROPERTY,AND IN CASE OF LAND PROPERTY APPLICATION SHOULD BE SUBMITED TO TALATHI UNDER THE AREA COLLECTOR , AND SUBMIT NECESSARY COPIES OF DEATH CERTIFICATE AND LEGAL HEIR CERTIFICATE AND COPY OF SAID WILL.
THEN YOUR NAME WILL BE ENTERED ON PROPERTY RECORDS AND ONCE YOUR NAME IS REFLECTED ON PROPERTY RECORDS THEN ANY BANK WILL GIVE YOU LOAN.
WITH BEST REGARDS TO YOU YOUR FAMILY AND FRIENDS.GOOD LUCK.
YOURS SINCERELY
NANDKUMAR B.SAWANT,ADVOCATE
Querist :
Anonymous
(Querist) 11 April 2011
dear nanakumar sir,
what is this city survey office ? is this same as Mandal Revenue office ? will it include any fees etc for us ?
R.Ramachandran
(Expert) 11 April 2011
Please indicate whether the person who left the WILL in your favour is your relative.
If he/she is a relative, then how related?
Is there anybody else with you i.e. your brother(s) / Sister(s) and mother / father etc?
R.Ramachandran
(Expert) 11 April 2011
Also please indicate when did you come to know that there is a WILL in your favour.
How did you come to know - who told you or who gave the WILL documents to you. Is the witnesses to the WILL now alive and do you know them.
Querist :
Anonymous
(Querist) 11 April 2011
Dear ramachandran sir,
yes obviously person who wrote the will on my name is my relative only.
i lost my parents.i dont have any one else than my sister.
i came to know about this will from my childhood only.my grand mother wants the property to belong to her sons son.
no witnesses are alive.infact this unregistered will is on my name from last 31 years...before i was born
R.Ramachandran
(Expert) 11 April 2011
OK, in that case approach the Authorities concerned, and as advised by Mr. Nandakumar, make available the Will, death certificate of your grandmother who made the Will, along with an application for mutating the property (i.e. entering your name) in your name. Once this is done, the property will stand in your name, and thereafter the bank will have no problem in granting you the desired loan.
All the bests.
Querist :
Anonymous
(Querist) 11 April 2011
Ramachandran sir,
who are those authorities. where should i go..is it Mandal Revenue office (MRO) or municipal office or where.
R.Ramachandran
(Expert) 11 April 2011
You approach the Mandal Revenue Office first they will do the needful or they will guide you where to go.
