• Home loan paid, what needs to be taken/given from hdfc/registrst?

Hi

I reside in mumbai and recently completed my last home loan emi. hdfc bank has asked me to visit anyday and collect all papers/complete remaiming formalities.

apartment is bmc registered but I am 4th buyer of it. Because I got old hdfc loan from 3rd owner transferred to me, so I never so any original papers for the apartment and only saw photocopies for old chain.

What all documents/processes etc do I need to take care now so that I do not get into any trouble while selling or doing anything with this apartment in future.

thank you.
Asked 3 years ago in Property Law
Religion: Hindu

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10 Answers

You need the original chain of documents ie registered agreement between builder and first owner ,subsequent original registered sale deeds 

 

2) possession letter issued by builder 

 

3)  NOC issued by society 

 

4) no dues certificate 

 

 

Ajay Sethi
Advocate, Mumbai
99776 Answers
8145 Consultations

 

Also letter from bank that loan has been repaid by you 

Ajay Sethi
Advocate, Mumbai
99776 Answers
8145 Consultations

  1. Before disbursement of loan, bank executes a registered MODT, Memorandum of Documents Transfer before Registrar. You need the get the  MODT cancelled. An authorized bank official  with proper letter of authority from lending bank will visit office Sub-Registrar and cancel the  MODT which  will reflect on government website. This is lien removal.  
  2. Collect all originals from bank with a covering letter with list of document returned.
  3. Check the condition of document for any damages as there is such possibility.
  4. No dues certificate.
  5. Closure of loan certificate to the full satisfaction of bank.
  6. There is no practice of security cheque.

Ravi Shinde
Advocate, Hyderabad
5128 Answers
42 Consultations

You will find the list of documents deposited with the bank in the MOD that has been registered with the registrar by the bank.

You can obtain a copy of the MOD and verify the documents as per the list mentioned in the deposit of title deeds.

The bank can return the title documents only what they have accepted at the time of granting the home loan and not any other document that is required to be handed over by the previous owner/your vendor. 

T Kalaiselvan
Advocate, Vellore
89978 Answers
2492 Consultations

You can get all  the documents as per the list which have been deposited with the bank, besides the the No due certificate and also the bank has to register the cancellation of the mortgage deed or MOD, return the post dated cheques, etc.

 

T Kalaiselvan
Advocate, Vellore
89978 Answers
2492 Consultations

Dear client in this situation u have to have .

1. Sale deed
2. Building plan
3. Encumbrance certificate
4. Completion Certificate
5. Occupancy Certificate
6. Tax receipts and utility bills
7. No-Objection Certificate (NOCs)
8. Succession Certificate (if you are selling an inherited property)
9. Khata certificate
10. Patta
11. Bank approvals in case of outstanding home loans

Anik Miu
Advocate, Bangalore
11014 Answers
125 Consultations

Hello,

All the documents that you have mentioned need to be collected from the bank. The no dues certificate is very important and also the original deed. 

After doing so make sure that you do the mutation in your name.

Regards 

Swarupananda Neogi
Advocate, Kolkata
2993 Answers
6 Consultations

1. collect all the original title chain documents

2. yes no dues certificate to be taken

3. the bank has to do that. request it if the mortgage was registered with the sub-registrar

4.same as 2 

5. same as 2

6. for what?

7. thats it!

Yusuf Rampurawala
Advocate, Mumbai
7899 Answers
79 Consultations

- As per rule, the bank is under obligation to release all the original documents  which bank has got from the predecessor owner at the time of sanctioning the loan from him. 

- Hence, you can check the list of documents in the bank which were submitted by the last owner. 

- Further , as you have already refunded the loan amount , then you can ask for the NOC from the bank . 

Mohammed Shahzad
Advocate, Delhi
15814 Answers
242 Consultations

Original title documents and no dues certificate is required from the said bank

Prashant Nayak
Advocate, Mumbai
34514 Answers
249 Consultations

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