Advocate Sasidharan Nair M N

Questions Answered by Advocate Sasidharan Nair M N

Q: Want to know the procedure to buy grandmother's property

Property is on my grandfather and grandmother's name. Grand father passed away. My grandparents have 6 children and they have not got any legal hier certificate so far. Now my grandmother and their 6 children are planning to sell that property and I am their grandson and willing to buy that property. what is the legal procedure to buy that property?

Advocate Sasidharan Nair M N answered
What is the nature of the property, whether ancestral, or self acquired by grand parents? Who are all the legal heirs of the deceased grand father? Which community you belong to? Hindu..or Muslim?Please do not come with questions with incomplete information

Q: What can I do if there is no road access to my property

I have a 50 cent of land, which does not have any road access. Adjacent to my land, there is a 10 cent of a plot for sale, which has private road access. If I buy this 10 cent plot, can I use this private road also to my existing 50 cent land. please assist me

Advocate Sasidharan Nair M N answered
On buying the 10 cents with private road access, you will get all the rights attached to the private road, for the 10 cents. Please verify the title deed of the 10 cents as to whether there is any restriction in using the private road, (for which you get only easement rights, not ownership) for any other purpose as commuting to other properties. If not you can safely use it to commute to the other property also.

Q: Can not pay Housing loan EMI, what to do ?

housing loan was due for 4 months, after that paying regularly.last month they pasted notice and then we payed 75000/(normally EMI is 20000 only).now jobless. how i can deal with this situation?

Advocate Sasidharan Nair M N answered
When the interest and/or instalments are overdue for more than 3 months banks will classify the account as overdue. /NPA and will initiate recovery proceedings. either by a suit or by invoking provisions of SARFAESI Act, or BOTH. There is no solution other than payment You may approach the Bank for some concession in interest or penal charges, if you want to sell of the house and pay off the loan. There is no legal remedy for inability to repay.

Q: In order to apply for loan, how many years of deed is required

Sir.. Thank-you for the patience to read my mail. I have a dout regarding the legal procedure of a bank loan. I don't know that whether it is suitable to ask you... If it is wrong please apologize to me. My self  and working in defence. Now I purchased a plot and applied for a housing loan in my nearest Canara bank. I have submitted original deeds of last 9 years. But they are demanding all the original deeds of last 15 years which is showing in encumbrance certificate.I searched the deeds every where but unable to find it out. It may be lost from the preowner. So I want to know that is there any existing rule that producing of last 15 years deeds is mandatory for a house loan? I hope your valuable reply..and contact no soon.. Thank-you

Advocate Sasidharan Nair M N answered
The title deeds of the property to be mortgaged must be submitted in original, and normally the immediately preceding parent document (If the entire property is transferred to the buyer) also mus be in original. All other prior documents can be produced as certified copies for verification flow of title. As an abundant caution, Banks call for original title deeds for 13 years. for tracing of title. However the requirement varies from property to property.

Q: Can I get stay in auction of my land and house in which family living

can i get stay from auction of my land and house which me and my family residing in this place my defaul amount is rupees is 565000/- my religion is hindu and forword caste

Advocate Sasidharan Nair M N answered
Your query is insufficient to know the actual situation, as to whether the proposed auction sale is under SARFAESI Act or under any other Law. Again, the nature of land, % of the total dues to original amount advanced, etc etc are all relevant factors in deciding the issue. So please furnish exhaustive details to enable me to advise you. However there can always be a remedy for any proposed dispossession of a secured asset.