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Home Loan MOTD cancellation by the Bank
07-Mar-2023 (In Property Law)
Dear Sir/Mam,
I closed my Home loan a year back with no dues. While I asked the concerned bank to cancel my MOTD and provide me a Deed of Receipt on my property, the bank has denied saying that it is customer's responsibility to do this cancellation and the bank is not procedurally and financially responsible to do this.
Can you please guide and advise me what is the right as this seems to not transparent and nowhere written ? Please advise me.
Thank you very much.
Actually the bank through which you had availed loan will have to give documents regarding closure of the loan and return of the documents. By using those papers you need to get released from the charge of loan.
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Dr. S. Diraviam Dinesh
Chennai | 1000+ Answers
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