Deepak Kumar Vasudevan ((Confidential)) 01 January 2010
After closing of a home loan repaying all the dues, we are in reciept of a document from HSBC called 'Letter to registrar to release the lien'. The subregistrar says that a bank representative should come and signoff.
However, the HSBC call center does not understand and it says the bank process ends by signing and sending the document. How to go about this process now?
Deepak Kumar Vasudevan ((Confidential)) 01 January 2010
Hi Sathya,
I have got that too. But the subregistrar adamantly demands a bank representative when the other party refuses such offers.
This would be required to clear off the entry in 'EC' of the property right? Or what other things would be cleared? What does the subregistrar expected to do with the 'Letter' and bank representative? Can some one help clarifying that? A little knowledge can also help me to wade out of the darkness in the tunnel.
Gundlapallis (Advocate) 01 January 2010
Actually the said letter from the bank should be enough for the registrar to record removal of encumbrance on the property. When the authority is insisting for personal attendance of the bank representative, you give a written notice to the bank stating the necessity. Its duty of the bank to see all the formalities of the loan are over after repayment. Bank failing to attend your call comes under deficiency of service and you can sue the bank in consumer forum.
Or takeup the matter (representation on paper) to the notice of next higher authority in the Registration dept. Even there if you are advised to bring the bank representative in person, request for a written order.
This is such a routine procedure, the bank and the authority must have clarity. Public should not be troubled for their ignorance of procedures. Make them wakeup.
Gundlapallis (Advocate) 01 January 2010
Sorry, i did not make it a sequential presentation. First you approach the higher authority if your work is done well and good; if not, get a written order from the authority and annexe copy of that to your notice to the bank. The bank must move.
R.K.SUNDERRAJ (LAWYER HUBLI,KARNATAKA) 03 January 2010
You submit an application for the release,along with the letter issued by the Bank,and also enclose all the relevant records for having paid the entire dues,and relevant documents Xerox copies, obtain endorsement for having submitted the application from the sub-registrar. get the written order as suggested by Shri.Venkat rao, if the reply is made,In the same form,then you can demand the bank officials for the assistance. But actually letter issued by bank for release is sufficient,
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