What is the procedure for loan against property

605 votes

From the facts disclosed, the Bank is taking you through the proper procedure. What is the reason for seeking reassurance?

Prima facie, it appears that the loan would be released against deposit of deed; in such a case, the release of property takes place once the deed is released.

Advocate P Venu LawRato

931 votes

After you submitting your application before the bank along with the original title deed and other prior documents, after the preliminary verification, you may be asked to get the Basic Tax Receipt,EC,Possession certificate ,Location Certificate and site plan before the bank.Once you submitted all these documents ,it may be handed over to the banks panel advocate and legal adviser for further verification and title investigation report.If he is satisfied, he may submit the report before the bank....Once the report is received from the legal adviser loan can be disbursed within 3-4 days. After the last repayment of the loan amount you will be handed over all the documents which you deposited with the bank.

Advocate Sindu R Kurup LawRato