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Q. Bank Asking for Legal Heir for Closure

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sanath shetty

posted 1 month ago

Q.Bank Asking for Legal Heir for Closure
Hello, I have a home loan in HDFC bank and there are 2 more co-applicants (wife and father in law). they are co-owners of the property as well. my father-in-law has passed away a couple of months back and now we want to transfer the loan to a different bank and we have the loan approved as well in a different bank. but my current bank is not willing to give me the closure letter until I produce a legal hire document. I don't understand this need since I am clearing off loan why would my current bank still need legal hire

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Kishan Dutt Kalaskar Retired Judge

Experience: 33 Year(s)

Responded 1 month ago

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A. ) Dear Sir,
You may approach Banking Ombudsman and get resolve the issue.

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Shreyash Mohta

Experience: 1 Year(s)

Responded 1 month ago

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A. ) You shall have to obtain a legal heir certificate.

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Rameshwar Dadhe

Experience: 2 Year(s)

Responded 1 month ago

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A. ) You will need legal hair certificates

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J S Pawar

Experience: 3 Year(s)

Responded 1 month ago

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A. ) Your father in law has become property owner by virtue of co-ownership as quoted. If deceased person has no will or dies intestate u need to produce LA or Succession certificate. It will also b beneficial for transfer of his share in property amongst his legal heirs. Clear and sole advice needs preview of documents n getting exact idea of transaction

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