The most common question which arises while dealing with mortgage for the practical purpose as in while taking loan from banks and financial institutions that what are the document which should be produced to the bank or the financial institutions . The documents which are gernerally required by the banks at the time of taking home loans are as follows:
- The Title Deed of the property to be mortgaged which bestows the ownership upon the person whishes to take mortgage the same
- The Agreement for Sale with the present owner with the previous owner in respect of the property to be mortgaged.
- The Prior Deed and/or Deeds of the property to be mortgaged ( at least of the previous 15 years).
- The Title Deed of Municipal tax receipts and/or the Property Tax Bill paid by the owner of the propety (in respect of the property to be mortgaged) .
- The Mutation Certificate in the name of the ownerof the property to be mortgaged.
- Assesment Registration Copy ( from the municipal authority)
- . Record of Rights (porcha) ( if any).
- Khajna receipts (if any).
- The Posssession Certificate from the concerned authority (if any).
- Certificate an/or Permission from the Land Acquisition department (where applicable).
If the registration of the concerned property has not been taken place yet :
- The Agreement for Sale between the present owner and the person willing to mortgage the poperty.
- The Title Deed of the present owner .
- Along with the other necessary dicuments as abovementioned.
In case of a Joint Property:
- Where the property is owned by the person who whises to take the loan along with other co-owners i.e. the property is a joint property thefore the permission from the other owners.
- . The property to be mortgaged must be demarked .
- Deed of Partition demarkating the subjct property (if any).
- Deed of Declaration demarkating the subject property (if any).
These aforesaid documents are the necessary documents (photocoied) which need to be submitted at the time of application for the loan . At the time of disbursement of the loan the bank will require some dicuments to submit the documents in original.