Loan Against land documents recorded with register 1955 in EC
2 months ago
My Grandfather brought a loan from one person in 1955 against a land document, this was registered in the TN govt. register office. Later Loan was paid in 1960 and land documents were received back. but it is not updated in the TN Govt. register office. Now How can I update or how can I transfer the property to my Name?
A.Dear Client,
If a loan is not obtained by pledging property with a financial institution and a registered mortgage deed is not executed, the registry lacks the ability to update the property status, and it won't be reflected in the Encumbrance Certificate (EC). Therefore, after repaying a personal loan and receiving the original property deed, it is necessary to formally notify the Registry in writing to ensure the records are updated. Subsequently, you can apply to the Registry for the transfer of the property into your name. This process may involve providing a legal heirs certificate or a succession certificate, as required by the registering authority.
If a loan is not obtained by pledging property with a financial institution and a registered mortgage deed is not executed, the registry lacks the ability to update the property status, and it won't be reflected in the Encumbrance Certificate (EC). Therefore, after repaying a personal loan and receiving the original property deed, it is necessary to formally notify the Registry in writing to ensure the records are updated. Subsequently, you can apply to the Registry for the transfer of the property into your name. This process may involve providing a legal heirs certificate or a succession certificate, as required by the registering authority.
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A.Dear Client,
Unless a loan is availed of against the mortgage of property from a financial institute and a registered deed of mortgage is executed, the registry has no scope to update the status of the property and it is not reflected in the EC of the property. So, on repayment of a personal loan when you get back the original property deed, you need to inform the Registry in writing to update the records accordingly, and on updation of records, you may apply to the Registry for transfer of the property in your name based on a legal heirs certificate or a succession certificate as may be required by the registering authority. Reach out to an Advocate for guidance and steps.
Unless a loan is availed of against the mortgage of property from a financial institute and a registered deed of mortgage is executed, the registry has no scope to update the status of the property and it is not reflected in the EC of the property. So, on repayment of a personal loan when you get back the original property deed, you need to inform the Registry in writing to update the records accordingly, and on updation of records, you may apply to the Registry for transfer of the property in your name based on a legal heirs certificate or a succession certificate as may be required by the registering authority. Reach out to an Advocate for guidance and steps.
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