Hak sod patra mandatory for grant of loan by all banks or HDFC only
14-Jan-2023 (In Banking / Finance Law)
I have an unmarried sister who is purchasing a flat,also my parents are co owner for the flat as by selling of a plot which is name of parents the money to be transferred to flat purchase. But initially my sisiter has approached HDFC bank for loan , first she will take loan then as the land will be sold that proceeds will be given to the flat. HDFC bank is asking for Hak sod patra , relinquishment document from me for the new purchase flat loan. Is it legal and mandatory and has to be provided for all banks if approached for loans or is it HDFC bank specific requirements?
If your sister is buying flat on her name and plot is of your parents, then each one who are having right in plot has to relinquish his right by relinquish deed in the name of bank and it is applicable to each genuine banking system.
Dear Client,
Many docs asked by bank are totally irrelevant, but as customer is in need they harass the customer more.
HDFC bank is very harsh while approval of loan and even more harsh while recovering it. It would be advices to approach anyother nationalised bank or co-operative bank for getting better services.
Expert Jurist LLP
Many docs asked by bank are totally irrelevant, but as customer is in need they harass the customer more.
HDFC bank is very harsh while approval of loan and even more harsh while recovering it. It would be advices to approach anyother nationalised bank or co-operative bank for getting better services.
Expert Jurist LLP
Disclaimer: The above query and its response is NOT a legal opinion in any way whatsoever as this is based on the information shared by the person posting the query at lawrato.com and has been responded by one of the Divorce Lawyers at lawrato.com to address the specific facts and details.
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