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succession

(Querist) 26 September 2009 This query is : Resolved 
can a bank issue SARFEASI notice in the name of the deceased person

Can a bank insist on a sucession certificate to transfer the loan in hte name of wife
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A V Vishal (Expert) 27 September 2009
1. No, the bank cannot issue a notice to a deceased person however they can bring the LR's on record.

2. In order to avoid litigation in respect of your claim to the property in future by any third party viz. the relatives etc... the bank may follow the rules and insist for a certificate of succession.
Bhumik Dave (Expert) 27 September 2009
Agreed with mr. Vishal. Bank can't issued legal notice to a deceased person.
adv. rajeev ( rajoo ) (Expert) 27 September 2009
Agreed with Vishal
Sachin Bhatia (Expert) 27 September 2009
Agreed with Mr. A.V. Vishal
Raj Kumar Makkad (Expert) 27 September 2009
No different opinion than Vishal on these points.
Adinath@Avinash Patil (Expert) 27 September 2009
Vishal is correctly advised query

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