loss of property documents by bank
Querist :
Anonymous
(Querist) 06 February 2010
This query is : Resolved
I had taken housing loan from the bank in Mumbai. I have now fully repaid the housing loan. However, bank has informed me that my original property documents are misplaced/lost by them.
Bank has told me that they will re-create the documents. I want to file a case against the bank for compensation. How much amount should I claim from the bank as compensation ? How much compensation court will really award ?
Please guide.
Thanks and Regards,
Devajyoti Barman
(Expert) 06 February 2010
You can easily file a complainant u/s 12 of the Consumer Protection Act and claim for any amount of compensation you like though awarding it depends totally on the discretion of the court albeit judicial. However amount of claim will determine the Forum as a complainant claiming any amount exceeding 20 lac will have to be filed before the State Commission else District Forum.
Raj Kumar Makkad
(Expert) 06 February 2010
There is no set formula to award the compensation as asked by you. It depends upon various facts like importance of those documents, the efforts of the opposite party to trace out those documents, the time taken in this process, the immediate loss to the complainant, the behaviour of the opposite party etc. etc. are various points to be taken into consideration by the counsumer forum in such matter.
B K Raghavendra Rao
(Expert) 06 February 2010
Among all the original documents, you would have submitted the original sale deed or partition or gift deed by which you had obtained ownership of the property. Certified copy of that document could be obtained from the Sub-Registrar's office and really nothing much is lost to you. Tax paid receipts, khatha certificates are all supporting documents that could be obtained from the municipal office afresh. Now tell me how much you may claim as compensation?
It could be hardly Rs. one or two lakhs. Moreover, it could not be predicted as to how much the forum would award as compensation.
Guest
(Expert) 06 February 2010
you can file claim before consumer forum..... i agree with the view of Mr. makkad and Mr. devajyoti.
Parveen Kr. Aggarwal
(Expert) 07 February 2010
Mr. Rao
One can have only certified copy of a title document from the registration office and not the original. The original document has its own importance. In case the owner wants to further mortgage the property by deposit of title deed (Equitable Mortgage) he will not be able with the help of certified copies. Also, the misplaced original documents may be misused which may create difficulties.
B K Raghavendra Rao
(Expert) 07 February 2010
If the original is lost, then there cannot be original. The only alternative is to have a certified copy. For any mortgage in future, mortgage deed may be registered. In what way original documents can be misused legally?
Parveen Kr. Aggarwal
(Expert) 07 February 2010
The person having possession of the original title deed may obtain loan by deposit of title deed in collusion with bank officials. A number of cases have come out where even the seller retaining previous sale deed in his favour telling the purchaser that his sale deed got lost, misused the sale deed by obtaining credit facilities from the bank creating equitable mortgage on the sale deed in his favour concealing the factum of sale by him which have created problems for the innocent property holders.
