Results for #bank
Legal
#nri#flat#certificate#letter#possession
I am an NRI and I own a flat in surat-gujarat. This flat was bought in 2003. I got a share certificate and an allotment letter. I also have the possession letter for this. We also got a loan from ICICI bank. During this we did not execute the sale deed. Now I wish to sell this property and the buyer is asking for a sale deed. What can I do in this situation?
I am an NRI and I own a flat in surat-gujarat. This flat was bought in 2003. I got a share certificate and an allotment letter. I also have the possession letter for this. We also got a loan from ICICI bank. During this we did not execute the sale deed. Now I wish to sell this property and the buyer is asking for a sale deed. What can I do in this situation?
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Dhiren Shah,Advocate & Solicitor
291 Answered
Answered on November 08, 2017
Question is vague. As the same does not record from whom the flat has been acquired.
Legal
#loan#bangalore#agreement#construction#sell
My brother bought a house on loan in Bangalore and completed the loan tenure after which LIC returned the sale deed but did not return the original sale agreement and the construction agreement, we did not bother then. Now when we are willing to sell the flat the bank giving the loan to the buyer is asking for these documents, what do we do in this case? We tried contacting LIC but they said that they destroyed old documents.
My brother bought a house on loan in Bangalore and completed the loan tenure after which LIC returned the sale deed but did not return the original sale agreement and the construction agreement, we did not bother then. Now when we are willing to sell the flat the bank giving the loan to the buyer is asking for these documents, what do we do in this case? We tried contacting LIC but they said that they destroyed old documents.
Dhiren Shah,Advocate & Solicitor
291 Answered
Answered on November 08, 2017
You would have to give indemnities to the Buyer for the loss of the original documents and the Bank granting the loan to the Buyer would have to be satisfied with such indemnities and should also be satisfied that the loss of such documents does not affect your title to the house.
Legal
#2bhk#flat#pune#possession#loan
We have recently purchased a 2BHK flat in Pune but we are yet to get possession of the flat. Me and my husband, we both are the co-bearers of the loan but we are not the co-owners of the flat. The builder has not yet prepared the sale deed of the flat but the registered agreement of the flat is with the bank. We wanted to know which is the most convenient way by which we can get me as a co-owner of the property before we get the possession of the flat so that we can claim tax benefits under Section 80 C.
We have recently purchased a 2BHK flat in Pune but we are yet to get possession of the flat. Me and my husband, we both are the co-bearers of the loan but we are not the co-owners of the flat. The builder has not yet prepared the sale deed of the flat but the registered agreement of the flat is with the bank. We wanted to know which is the most convenient way by which we can get me as a co-owner of the property before we get the possession of the flat so that we can claim tax benefits under Section 80 C.
Dhiren Shah,Advocate & Solicitor
291 Answered
Answered on November 08, 2017
You can enter into a tripartite agreement with the developer inter alia in respect of the flat and which tripartite agreement could also be the sale deed which can be executed prior to the completion of the construction of the property or in the alternative an agreement can be made between the husband and wife whereunder the husband transfers a proportionate undivided interest in the flat in fa...
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Legal
#loan#bank#letter#registering
My home loan has been completed and is closed, the bank has given me the covering letter as well as the release deed. Although they stopped before registering it as I am the guarantor to an NPA home loan a/c holder. Is this law correct?
My home loan has been completed and is closed, the bank has given me the covering letter as well as the release deed. Although they stopped before registering it as I am the guarantor to an NPA home loan a/c holder. Is this law correct?
Dhiren Shah,Advocate & Solicitor
291 Answered
Answered on November 08, 2017
No, the Bank will not be entitled to stop registration of the release deed, however, the bank will be entitled to obtian a decree/ order against you in your capacity as guarantor for the loan in question and seek sale of your flat for repayment of the loan.
Legal
#mumbai#flat#owner#loan#property
I am a 24 year old individual living in Mumbai. I want to buy a flat in Kharghar. The owner of this flat had taken a loan for this property and hasn't paid it off altogether. What will happen to that? Also the papers of the house would be with the bank, so how can I claim that? Are all the original documents required during the registration? And what all documents will I have to provide while buying the flat?
I am a 24 year old individual living in Mumbai. I want to buy a flat in Kharghar. The owner of this flat had taken a loan for this property and hasn't paid it off altogether. What will happen to that? Also the papers of the house would be with the bank, so how can I claim that? Are all the original documents required during the registration? And what all documents will I have to provide while buying the flat?
Dhiren Shah,Advocate & Solicitor
291 Answered
Answered on November 08, 2017
You will require an NOC ffrom the bank prior to buying such property. You can make payment of the balance dues of the bank from the agreed value of the flat to the Bank directly and thereupon you can also get the originals of the flat from the bank. The original documents of the Flat will not be required at the time of registration of your agreement/sale deed.
Legal
#sell#land#bank#loan
My dad want to sell out piece of land in Varanasi, but he is facing a number of problem regarding the same. Can we avail a bank loan on this plot? The evaluation of the land is about 22-24 lakhs so what would be the loan amount we can avail.
My dad want to sell out piece of land in Varanasi, but he is facing a number of problem regarding the same. Can we avail a bank loan on this plot? The evaluation of the land is about 22-24 lakhs so what would be the loan amount we can avail.
Dhiren Shah,Advocate & Solicitor
291 Answered
Answered on November 08, 2017
Usually, the loan depends on the availibility of the person seeking such loan to repay the same. However, security of the land, the market trend is to give 60-70% of the land value as loan.
Legal
#property#loan#unmarried#bank#procedure
We are a family of 3 siblings and a mom, our dad passed away. Me and my one sister are married. We own a property that is a one storeyed building, now we wish to take a loan on the same and build another one for my unmarried sister. But the bank says that we cannot take the loan as my mom is above 65+ years of age. What is the procedure to transfer the house in my unmarried sister's name?
We are a family of 3 siblings and a mom, our dad passed away. Me and my one sister are married. We own a property that is a one storeyed building, now we wish to take a loan on the same and build another one for my unmarried sister. But the bank says that we cannot take the loan as my mom is above 65+ years of age. What is the procedure to transfer the house in my unmarried sister's name?
Dhiren Shah,Advocate & Solicitor
291 Answered
Answered on November 08, 2017
You can transfer the house in favour of the sister by way of a Gift Deed.
Legal
#heir#property#bank
We are a family of two brothers and one sister. My elder brother passed away, he does not have an heir to his property and bank balance, as he does not have a wife or any kids. Who is the next heir for his property and bank balance?
We are a family of two brothers and one sister. My elder brother passed away, he does not have an heir to his property and bank balance, as he does not have a wife or any kids. Who is the next heir for his property and bank balance?
Dhiren Shah,Advocate & Solicitor
291 Answered
Answered on November 08, 2017
Depnding on the religion you follow, if you are Hindu and if your parents are not alive, then you and your sister will be the only heirs of your deceased brother and will have equal share in his estate.
Legal
#bank#deposit#nominee#death#money
My father and I have a bank account jointly where we maintain fixed deposit and he has updated me as nominee. Later, incase of my father's death will I be the only person to receive money or my siblings will also get?
My father and I have a bank account jointly where we maintain fixed deposit and he has updated me as nominee. Later, incase of my father's death will I be the only person to receive money or my siblings will also get?
Dhiren Shah,Advocate & Solicitor
291 Answered
Answered on November 08, 2017
You will be entiteld to withdraw the monies lying in the fixed dpeosit of your father on the basis of the nomination made by him, however, if your father has died intestate then all his legal heirs will be entiteld to claim thier respective shares in the estate of the father which would include the fixed depsoits made by him.
Redevelopment
#builder#bank
Is there any way to ensure that the builder has offered adequate bank guarantee?
Is there any way to ensure that the builder has offered adequate bank guarantee?
Answered on November 08, 2017
Your bank guarantee should be sufficient to cover the construction cost of the area of the existing owners/members in the proposed building. If it meets this value, then you may consider it as sufficient/adequate.
