1) have you filed FIR of loss of original documents and issued public notice ?
2) inform bank of loss of original documents and FIR lodged by you
3) you can register partition deed
4) you would be able to sell your property
Mortgage against misplaced original Registered Deed
I had a registered deed of plot of my house jointly with my younger brother.The original deed is misplaced from quite some time.We have already taken a certified copy from thr Registars office and subsequently have to gather prepared a Partititon Deed dividing the plot between us and got the mutation done in the revenue record.Now I am seeking home loan from the Bank for extension of my house on my portion of the plot for which I am asked to submit original Deed by the Bank.My questions are- 1.How can I execute equitable mortgage. 2.Can I get the Partition Deed registered to cover the the Bank's requirement. 3.If I want to sell the property in part or full - would I be able to do so and what would be my legal obligations or hick ups in my way.
Asked 8 years ago in Property Law
Religion: Hindu
First answer received in 30 minutes.
Lawyers are available now to answer your questions.
3 Answers
1. The banks insist on the original sale deed as a condition precedent to the execution of the equitable mortgage. Certified copies are very exceptionally taken by the bank to create equitable mortgage.
2. A partition deed will only divide the property between you and your brother, but it will not be the title deed. The title deed i.e sale deed alone will fulfill the requirement of the bank.
3. All you can do is only persuade the bank to accept the certified copy of the sale deed.
4. If you find a prospective buyer who is willing to buy the property despite the fact that you do not have the original title deed thereof then you are free to do so.
Q. How can I execute equitable mortgage.
A. you may make equatable mortgage with a bank by delivery of title deed of the land.
Q. Can I get the Partition Deed registered to cover the the Bank's requirement.
A. partition deed along with title deed of the property is sufficient, title deed is necessary to prove your right to make mortgage and partition deed is necessary for proving you right over the said portion of property. partition deed should be registered.
Q. If I want to sell the property in part or full - would I be able to do so and what would be my legal obligations or hick ups in my way
A. you can sell it because you are the absolute owner of the property.
