A person has approached for loan and is ready to give property as collateral. Issue is that the person was named A till his retirement and the property was standing in the name of B (which he states is his nick name and he did not feel the need to change the name previously). Now, he has changed his name to B through affidavits, advertisement and has offered the property as B.
Is the process of changing the name to B to match the property documents legally valid and whether any other steps and precautions are to be ensured before giving the loan to B.
Please help.
