• Bank home loan queries on chain of agreements

Share certificate issued by CHS in Mumbai in my maiden name in 1980 based on Receipt for payment of Member Admission fee and Share Subscription fee paid in 1978. My mother was shown in 1983 as transferee on back of share cert. for bank loan without any transfer papers from me. No bank loan was taken. Mother filed with CHS notarised Affidavit affirming she had no title and removal of her name from share cert. But as advised by CHS mother executed a transfer agreement in 1987 on ₹ 10 stamp paper for transfer from her to me. No stamp duty was paid and no registration was done. Share transferred in my name in 1990. Redevelopment agreement in 2010 between me as member and occupant, Redeveloper and CHS duly registered after payment of stamp duty. Possession given in 2015. New share certificate in 2016 in my name in lieu of old share cert.. Buyer's bank for home loan wants complete chain of agreements for old flat (now demolished), explanation of entries on old share certificate (now extinguished) including transfers to & from mother (now deceased).
Asked 21 days ago in Property Law
Religion: Hindu

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6 Answers

1. Every Bank has its own Policy guidelines for disbursal of loan.  Therefore, requirement of documents fr home loan varies with every bank.

2. In your case the title is apparently clean and hence you should provide all the documents available with you. 

Devajyoti Barman
Advocate, Kolkata
22817 Answers
488 Consultations

5.0 on 5.0

If it’s Redevlopment then PAAA is executed in such case between builder and member and society 

Prashant Nayak
Advocate, Mumbai
31935 Answers
179 Consultations

4.1 on 5.0

For any flat purchased in a co operative housing society on or after December 1985  it is required to pay stamp duty on market value at the time of signing the agreement itself. However, prior to 10th December 1985  such transactions of agreement for sale required a stamp paper of Rs.5 only at the time of signing the agreement.


2) submit documents in your possession that you had purchased flat in 1980


3) rely upon original state certificate issued in your name ,receipt etc 

Ajay Sethi
Advocate, Mumbai
94700 Answers
7528 Consultations

5.0 on 5.0

The bank cannot demand the old share certificate if the new share certificate issued after redevelopment is found to be genuine. 

However,  if you have that then you can hand it over to the buyer. 

T Kalaiselvan
Advocate, Vellore
84896 Answers
2192 Consultations

5.0 on 5.0

So what's the issue ? 

The explanation that you have given in your query the same you can give to the buyer or his bank

At the highest an affidavit can be made by you and the other heirs of your mother 

The transfer to the name of your mother appears to be a mistake for which she had made an affidavit also in her lifetime 


Yusuf Rampurawala
Advocate, Mumbai
7510 Answers
79 Consultations

5.0 on 5.0

- Since, there is redevelopment has taken place and new share certificate issued by CHS dully registered , then the bank should not ask for the old certificate 

- However, the bank can ask for the transfer deed /release deed by the mother in your name , as a property cannot transfer without a registered deed like gift or release deed. 

Mohammed Shahzad
Advocate, Delhi
13211 Answers
198 Consultations

5.0 on 5.0

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