What will be the registration charges for one property
25-Jun-2023 (In Documentation Law)
i applied for a loan and mortgaged the property that was registered on my name and my wife's name. The bank took registration charges from me and my wife both for one single agricultural loan that was on my name. Is it legal to do that?
Was it an equitable mortgage or regular mortgage?
Whatever it is there cannot be two registrations for a single mortgage loan, did the bank give receipt for this registration charges? If not ask them to give an acknowledgment detailing the expenses, if they fail to respond or turn hostile to your requests, you my take up this matter with the higher officials of the bank and seek their intervention to return the excess charged amount.
If there is a single document and also there is a single loan, the registration charges shall be for that mortgage loan alone, in fact if it was equitable mortgage loan then there is no necessity for registering the documents, just registering the memorandum of deposit of title deeds will be sufficient.
You can issue a legal notice pointing out this irregularity and can even claim compensation for mental stress due to this.
Whatever it is there cannot be two registrations for a single mortgage loan, did the bank give receipt for this registration charges? If not ask them to give an acknowledgment detailing the expenses, if they fail to respond or turn hostile to your requests, you my take up this matter with the higher officials of the bank and seek their intervention to return the excess charged amount.
If there is a single document and also there is a single loan, the registration charges shall be for that mortgage loan alone, in fact if it was equitable mortgage loan then there is no necessity for registering the documents, just registering the memorandum of deposit of title deeds will be sufficient.
You can issue a legal notice pointing out this irregularity and can even claim compensation for mental stress due to this.
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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