Getting legal heir certificate
3 years ago
I bought a property from one of the legal heir. They had "Registered partition deed"' but they don't have legal heir certificate. Based on registered partition deed, i bought that property.
Now, while applying for bank loan, bank is not sanctioning loan as legal heir certificate is not available. As i have registered the property in my name, now they can't go to court for legal heir certificate. What's the procedure to sort this issue?
Ayantika Mondal @ Prime Legal
Responded 3 years ago
A.Hi,
it is your risk of purchasing the partition deed property without the legal heir certificate but the bank will not take that risk of rendering loan on that property, so convince your seller to provide the legal heir certificate, see the banks accept if you take an affidavit and the indemnity bond from the seller, the private bank may lend loan in such situation after confirming your repaying capacity of the EMI and the loan.
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it is your risk of purchasing the partition deed property without the legal heir certificate but the bank will not take that risk of rendering loan on that property, so convince your seller to provide the legal heir certificate, see the banks accept if you take an affidavit and the indemnity bond from the seller, the private bank may lend loan in such situation after confirming your repaying capacity of the EMI and the loan.
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A.Hi,
if the property partition is done by mutual understanding , then legal heir certificate is not needed . and in loan what is the need of legal heir certificate , the title chain should be clear . However, if the title is not clear you can ask the seller for the legal heir certificate and such proofs.
If you find this helpful, please rate us.
if the property partition is done by mutual understanding , then legal heir certificate is not needed . and in loan what is the need of legal heir certificate , the title chain should be clear . However, if the title is not clear you can ask the seller for the legal heir certificate and such proofs.
If you find this helpful, please rate us.
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