LCI Learning

Share on Facebook

Share on Twitter

Share on LinkedIn

Share on Email

Share More

Renjith Krishnan   31 August 2018

Title Deed for bank loan

For secured loan, Bank is asking for original prior deed for 13 years or certified copies of title deeds for 30 years. Since the Original title deed itself is from 1986 , do I have to give prior deeds?

Thanks and Regards
Renjith Krishnan


 4 Replies

G.L.N. Prasad (Retired employee.)     01 September 2018

The bank is lending you the money, and they have to take proper precautions like verification of title to your property and such opinion from their counsel.  One may be having title deed of a property from 1950, but having title deed is itself not complete legally, as they have to see the link transactions as to whether the seller is having a good title to sell property to you.  In case the seller is having defective title , he can not deliver bonafide title to purchaser.

Obtaining of EC and certified copies of link documents is most necessary for every purchaser.  If you have not obtained, you can obtain the same from Registrar within a week and the procedure is simple.  When a Public Authority is having well laid down norms and stipulations since centuries, any violation amounts to their negligencce.

As a good borrower, submit those certified copies in your own interest.  Bank Manager is not having any discretion to waive any documents and he has to go as per legal opinion of Bank's legal counsel (Retainer).  You may try from private or LIC HFL if you think that banker is harassing you.

1 Like

Jamal Sait   01 September 2018

Apply for Encumbrances Certificate from sub-registrar office at will contain all prior transactions. Their is no necessity of giving all prior title deeds.
2 Like

Renjith Krishnan   01 September 2018

I have taken Encumbrance for 31 years, and our original title deed is older than 30 years. Since the bank is asking title deeds for only 30 years, I hope no prior title deeds are needed?

Jamal Sait   01 September 2018

No, its not needed. Original Title Deed from the current owner is actually the norm along with khata, EC & property tax receipts. Tell Manager to reconsider his stand.
1 Like

Leave a reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Related Threads