Prosedure for release of mortgaged property

Nikhil Shah (Querist) 06 February 2012 This query is : Resolved
Pls let me know the procedure and cost for Release of Mortgaged Property with a company. The said property was mortgaged by way of "MORTGAGE DEED BY DEPOSIT OF TITLE DEED" which was registered by paying the Registration fees and stamp duty. As the loan has been repaid I want to get it released. Pls inform what paper work is required and the procedure and if Registration and stamp duty has to be paid again.

Follow Query

Report Abuse

Nadeem Qureshi (Expert) 06 February 2012
Dear Nikhil Shah
What are the terms & conditions of the Mortgage Deed?

Nikhil Shah (Querist) 07 February 2012
The terms are that after making the entire payment the mortgagor shall execute a Deed of Release in my favor which needs to be registered for which I want to know the procedure and the actual cost involved for executing the same.

RAJU O.F., (Expert) 07 February 2012
After closure of the loan dues, the bank has to execute deed for release of the mortgage. Since the mortgage was registered, the release deed also has to be registered. Registration fee and stamp duty vary from state to state. Your banker would be knowing the costs and hence please approach the bank itself for the said purpose.

Shailesh Kr. Shah (Expert) 12 February 2012
Ask company to execute deed of release in your favour and for stamp duty & other expenses, contact local lawyer for it. Since, Stamp duty vary from state to state,

Previous

Next

You need to be the querist or approved LAWyersclub expert to take part in this query .

Click here to login now