Currently, I am in the process of obtaining loan against property from a prominent financial institution. However, my last page of original sale deed has faided from the back. When bank compared last page of original sale deed from last page of true copy they say at few places alignment is different (where buyer has signed and handwriting also differs a bit). Our lawyer has suggested that true copy is another set which is submitted with court and buyer has a different set which we have shared with bank. However, bank is still not convinced that the papers we have provided are original sale deed. They are sure about ownership but unsure about original paper and are trying to reject our loan which is not acceptable by us as we know for a fact that our papers are original. What would you recommend in this case. How can we convince bank? Can you share any article where its mentioned that original and true copy are two different sets and would have few differences? Look forward to your help on same.
1) it is at bank discretion to sanction or reject loan . you cannot dictate terms to the bank to accept your loan
2) apply to Sub Registrar office for certified copy of sale deed .
3) true copy should be mirror image of original . there cannot be any differences between original and true copies
apply to sub registrar office for certified copy of sale deed
Are certified copy of sale deed and true copy same document?
no they are not the same . true copy is photostat or xerox copy of sale deed .
1. On account of the difference between true and original copy bank has an unquestionable discretion to reject your application for loan.
2. A true copy admits of no difference with the original in terms of contents. It is a mirror reproduction of the original document.
3. Obtain a certified copy from the registrar.
certifed copy is stamped by the sub registrar office which is a proof that its a copy of the original
Thank You. The content of our original sale deed and true copy issued by sub registrar office is exactly the same. Just the placing of signature and stamping differs. If I have understood all of you correctly, Certified copy of sale deed is different than true copy. It is copy of original papers which was issued to buyer and court retains it for their reference. Please advise
thanks for your appreciation . once you produce certified copy from sub Registrar office bank will be satisfied that there is no difference in contents . your loan would be sanctioned .
for your information it is not court but Sub Registrar office that retains it for record purposes
my pleasure
Thanks for appreciation.
There cannot be any deviation in contents of a true and certified copy. You have mentioned that nothing except signatures and stamping differs. Bear in mind that difference in signatures can render the document a nullity. Moreover, how could the divergence in signature arise in the true copy and original when true copy is to be prepared from original?
Produce a certified copy for bank inspection. After verification bank may be satisfied with authenticity of the document and agree to approve the loan.