What recourse to avail over loss of conveyance deed?- property hotline
August 26, 2016
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6:07Now PlayingWhat recourse to avail over loss of conveyance deed?- property hotline
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as posted by the channelExpert: Kartik Jhaveri, Founder & Director of Transcend Consulting India Pvt Ltd.
Question: I bought a flat in Faridabad. I took a loan for it from HDFC Ltd. It was a construction linked plan. The loan was initiated in 2010. I got the handover of the property in 2013. The sale deed was made in 2013. The builder submitted the sale deed to HDFC in 2013. In 2014, I transferred the loan from HDFC to SBI. SBI paid HDFC a cheque and requested the original papers. While releasing the papers in 2014 HDFC realised that the conveyance deed was lost. Currently in 2016, SBI is asking me to either pay the loan amount or handover the original conveyance deed. HDFC lost the conveyance. What can I do?
Answer: Bank cannot force you to prepay once they have given you the loan. Get a duplicate/ certified true copy of the deed from the sub-registrar. This is exactly why we register documents so that in case of loss or damage, the sub-registrar can provide with a copy of the same. Make sure you do all your communication in writing. Write a letter to the bank (SBI) explaining the situation. Get a written note from HDFC. Go do a police registration if you need to.
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