LOST OF ORIGINAL SALE DEED/ REGISTERATION.
ARUN JOGALEKAR
(Querist) 19 March 2010
This query is : Resolved
Dear Sir,
Please advise, if a original registered sale deed is lost,and the bank refuses to accept the ceritified copy/police fir/public note, for disbursal of loan .
Would it be possible to :
cancel this original sale deed, and then make a fresh registeration deed.
Please advise, any other suitable options.
Manish Singh
(Expert) 19 March 2010
why would you go for fresh sale deed. its your right which the bank is neglecting thus lodge a complaint to the banking ombudsman of your jurisdiction which can easily be found on the internet and rest shall fall as per your wishes.
ARUN JOGALEKAR
(Querist) 19 March 2010
Dear Sir,
Many thanks for your reply.
Kindly note, however, in long term interest,i.e after a period of 5-10 years, or whenever I need to sale this property, again,
I would have to persuade/satisfy the client.the genuineness of the case.
If, I am ready to bear the stampduty+regn charges again, is it possible to make a fresh sale deed, by cancelling the previous deed.
Also please advise,if I recover the original sale deed later, can i apply for a stampy duty refund , on the lost deed.
Parveen Kr. Aggarwal
(Expert) 19 March 2010
The bank may refuse to grant loan by Equitable Mortgage (by deposit of title deeds) but still registered mortgage can be created.
A sale deed cannot be cancelled merely on the ground that original has been lost.
Guest
(Expert) 19 March 2010
Instead of thinking of cancelling the Sale Deed, the present owner may settle the property to his/her kith and kin, thereby an original Settlement Deed is created (at less cost) and the present owner may join the Bank Loan as joint borrower.
Parthasarathi Loganathan
(Expert) 19 March 2010
Bank can be insisted for Creation of Registered Memorandum to secure the loan which can be done even without the original title deeds based on certified copy of title by the competent authorities/.
