home loan against INherited property

PRASHANT (Querist) 28 April 2016 This query is : Resolved
Dear,
My mom inherited home from my grandmom through will deed. Mutations is made at municipal corporation and electricity deptt.
Now she want to take loan on that inherited property for making shopping complex.
But bank managers are not satisfied with ownership. They want sale deed or registered mortgage of property.
Please tell me what documents should i produce for getting loan?
Thanks

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Rajendra K Goyal (Expert) 29 April 2016
Get title be verified from the Bank's law department / legal adviser and go for registered Mortgage. In absence of registered title deed in the name of your mother, equitable mortgage is not possible.

PRASHANT (Querist) 04 May 2016
Thanks
What is the procedure and stamp fees and other cost for doing it.plz tell with ref to uttar pradesh.
Is loan amount is considered

T. Kalaiselvan, Advocate Online

(Expert) 06 May 2016
The stamp duty is a state subject which you can enquire it locally.
As clearly opined by expert Mr. Rajendra K Goyal, you can go for registered mortgage to get loan sanctioned.

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