My grandfather has 2 son and 1 daughter during his life my grandfather done a registered will 18 yr ago in my mother name he died in 2002 now after his death property get mutated in my mother in delhi name long back My question is that y no bank give loan on registered mutated property even though probate is not compulsory in delhi. Please provide any alternative so that we can avail loan My father sister has no more relation ship with us so rd canont be done please help with any other alternative so that we can avail loan without probate And why registered will is not clear title
probate is judicial proof that will is genuine
2) the reason why banks reluctant to give loan although mutation has been done in favour of beneficiary is to avoid legal complications in case other legal heirs claim share in property
3) apply for probate of will . other legal heirs can file consent affidavit
4) probate does not take more than 6 months if there is no contest
Banks generally want probate just to be sure that there are is no litigation later on.
Alternatively, you can also file a suit for declaration in civil court to declare your mother as the sole owner of the property on the basis of the will executed by your grandfather in her name.
Registration of will only places it in the safe custody of the Registrar, with the purpose of that the will is not tampered with, destroyed, mutilated or stolen but does not transfer any title and the will can be challenged at any time.
But probate fees will b huge can my mother do rd in my name will that make title clear for bank. If we don't want to go for probate what will b best and easy way for this to avoid court fees of probate as it is a self occupied property will survivor certificate will be beneficial for loan or no More over if we unlikely go for probate we dont have any contact details of father sister how we will notify her moreover supreme court ruling no girl can have share in father property prior to 2005 Please provide any easiest method since its a registered and preoccupied property
Hello,
You must file a declaration suit and get a declaration to that effect or you must get a succession certificate..
Ask the bank as to what documents they require to give a loan on the said property?
Even though the same is not mandatory, at times bank and other authorities ask for the smae
Regards
That`s problem with bank. Mother ownership is clear. Approach private bank.
probate court fees are maximum Rs 75000 in mahrashtra
2)engage detective agency to trace out father sister
3) you need your uncle , aunt to execute consent affidavit in testamentary petition or execute relinquishment deed to relinquish their share in property
Probate is not necessary in Delhi but if there are objections from other LRs with regards to bequeath in the Will and challenge to the execution of the Will then it is always in the interests of the beneficiaries to obtain a probate.
You would have to bear stamp duty based on the percentage of the circle rate of the property for execution of relinquishment or gift deed in your favour from your mother.
If you file a declaration suit as advised above, you would have to pay very little court fee.
You can ask for explanation for the same to the banks you applied. You can also file consumer complaints if reasons are not given
See you can try with the private banks for loan further if the will is registered then banks should have no problem further on ground of pronate if the bank is denying loan then you have to apply for same as we van not challange the procedure of banks
see even if mother transfer In your favour stamp duty and registration charges will apply and for earlier transaction of will bank shall till ask for probate. So there are number of financial institutions. You can approach other one and can seek loan on property.
See since will is there the amendment act is not applicable or not issue you can serve notice on her last known address.
Harmony before the financing Bank needs to know there liability arising on the property is the property transferred in your mother's name is ancestral property and any other legal hair which have any interest in the property can go for his share in the property that will create dispute on the property this is the reason that banks are not providing finance keeping this property as mortgage in case your mother is making any registered will in your favour and there are other legal hairs along with you they will have the power to contest will as this property is ancestral property and your mother have no right to make will on the ancestral property
Probate of Will is not mandatory in Delhi.
Registered will is more than enough to get the property mutated on the name of the beneficiary .
The banks will be having their own requirements to be complied with for granting loan, so you may have to look for them and comply with them accordingly.
There are plenty of banks willing to give loan, so you may approach one of them.
Firstly dont misunderstand the 2005 year amendment of law with regard to daughter's entitlement in her father's intestate property.
Instead of taking pain to get the will probated, let she execute a registered settlement deed in your favor so that you will become an absolute owner of the property after which you can apply for housing loan in your own capacity.
The registered will is not a clear title until it is executed in proper manner.
You should get the will executed and transfer the absolute ownership of property in your mother's name.
For that you have to pay the fees and in current scenario of digitalisation it will not be easy to exempt from the fees.
Dear Sir,
To get home loan from bank,you should give title document in your names, parent document of the property, if it is ancestral then you should give legal heirship certificate, revenue records mutated in your names, ex. kist reciepts (tax receitps)or any other proof of your possession in that property, such as if it is agricultural land then you have to show such relevant records entered in VAO office regarding your property in your names.
