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Bank rejected loan on succession certificate but doc not needed by DDA
14-Apr-2023 (In Property Law)
I am planning to buy the property in delhi. When i applied for loan, the lawyer on the bank panel he rejected my loan stating that the person from whom i am buying the property in that family chain legal heir certificate is missing, but the same documents are approved by DDA. The property is a freehold DDA property.
Both Bank and DDA follow their own standard. Bank has to ensure a perfect mortgage. Where chain of documents are must . DDA in case of freehold properly only mutate titles of ownership in its own records. Mutations as such do not confer any title in any property. Further, In case of Bank loan, a lawyer only gives it legal report. It's for Banks to finally decide as to granting n non granting of loan. Further opinion can be given after detailed information n discussion with Client.
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Adv. Shankar Kumar Jha
Delhi | 25+ Answers
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Bank is not bound to provide loan, it is on the discretion of the Bank, on the basis of their terms and conditions.
However, if Bank prove to be the bias, then you can file a complaint against the bank in the RBI, and higher authority of bank.
However, if Bank prove to be the bias, then you can file a complaint against the bank in the RBI, and higher authority of bank.
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Adv. Naveen Kumar Shelar
Delhi | 100+ Answers
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