Dear Sir/Madam,
My name is Vikram Singh. My younger brother Devender Singh Chauhan took a home loan from ICICI bank. He took a loan of 2200000 (22 Lakh) in 2003 against a property (House No. 1179, Sector- 7/D, Faridabad, Haryana). At the time of loan this property is on his name, But in 2007, he transfer this property on my name via Decree. In every department this property is registered on my name now i.e. Vikram Singh. I am the owner of this property since 2007 and even residing in this home from 1995.
Now from last many years he stoped paying the EMI to the bank and because of this my relation with him is also not good. Now from last many years I am paying the EMIs to the bank because the property is mine and if I not paid the EMI to the bank then the bank said that action will be taken against the property.
Now Instead of paying EMIs to the bank I want to close the loan by giving full and final payment to the bank. Earlier I also discussed this problem to many bank employees that as he is not paying the installments then allow me to close the loan by paying the full and final outstanding to the bank and then also return me the property documents deposited in your bank. But the bank says that they can't allow anybody else to close the loan without the authorization letter from the applicant i.e. Devender Singh Chauhan and the only procedure they told me is to get a signed document from i.e. General Power of Attorney of ICICI from Devender Singh to close the loan by me. But the problem is that he is not signing that paper also.
So, I want a legal advice on this that how can I close the loan and get the property papers from Bank because the property is on my name and I am ready to give the full and final outstanding of the loan amount to the bank. So, please advice me.
Thanking you
Regards,
Vikram Singh
9999038184
Asked 7 years ago in Civil Law
Describe me the complete legal process so that I clear the bank loan and get the property documents which is on my name.
Bank needs there money and I am ready to give them the full and final outstanding and the property is even mine. So advice me how can I close the loan and get my property documents from Bank.
Asked 7 years ago