I have taken a housing loan from IDBI Bank. The loan was taken over by other PSU Bank (UBI). But even after three months of takeover the loan documents are not released by IDBI to UBI.
Now, I have been informed by the IDBI that all the original documents are lost in the fire occurred at the SHCIL and now the bank is in the process of getting certified true copies from the registrar. I have following queries in this matter,
1) Do I accept these certified true copies or insist for recreation of original documents?
2)Can I sell the home in future on the basis of certified true copies?
3) Any bank will accept this property as collateral security?
A.It can be a gruesome situation if not followed in time bound manner. Police action is surely required, approaching State / National Consumer Commission is another way too. Coming in touch with us could help too. Regards
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Rajender Prasad
Responded 5 years ago
A.bETTER YOU REQUEST THE bANK FOR DUPLICATE PAPERS/recreated OF YOUR PROPERTY. they can apply through you to the local authorities.
A.First ask the bank to lodge a complaint with police. It will be supporting documents to certified copies.
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Ambrose Leo
Responded 5 years ago
A.Instead of leaving on the banker and accept certified copies, better to demand for recreation which is not easily forth coming. It is better to move legally and record the matter and obtain court ordered documents which will be legal document for all purpose in lieu of Original Lost/Missing/Destroyed in fire .
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NILANJAN CHATTERJEE
Responded 5 years ago
A.True copies are acceptable but still you pursue for recreation. But, if the original document of property deed is lost then in that case recreation is not possible. Only any document construed between you and the bank can be recreated,Where it must be stated that this document as recreation of previous document and it also must state the previous Emi paid by you. Moreover, For sale of such property it can be initiated through true copies, But, Bank also must give you in writing that such property deed (original ) has been lost due to fire from their end.
Dear Client,
We would require more details on the issue to answer your query precisely. It is important to know the cause of action in the matter to provide appropriate legal remedy.
Thank you.
Dear Sir,
You may get issue a legal notice to the concerned Bankers and the Head office and initiate legal action and claim huge compensation for not securing your account details which are private de...
Dear Client,
Your query requires more details to address it suitably. You expressed your concern but not a cause of action behind that concern that attracts a legal remedy. It is a virtual platform w...
Dear Client,
You need to adhere to the payment of EMI and interest rates as provided by the financial corporations to settle the loan amount. In case of a financial crisis, you can contact the manager...
Dear Client,
Once a donor or owner of the property gifted the property to the donor through a registered deed of gift, the property becomes the self-acquired property in the hand of the donee who beco...
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