What happens if the bank loses property documents?

Register Police FIR against bank: If any govt issued document is lost or misplaced, it is mandatory to register Police FIR. In Police FIR, clearly state that Bank has lost your original Document/s or Page/s which you submitted with the bank in original against Home Loan from bank.

Does Bank keep sale deed to your house?

The original sales deed remains with the lender till the time you repay the loan fully. This sales deed will be returned to you once the repayment is over.

What do I do if I lost my original registry?

Go to the registrars office at your local jurisdiction along with the photostat copies and apply for a certified copy which is equal as the original and make a complaint to you local police station of such misplaced deed. The deed number shall be present and the matter of record in your copies.

How do you get Lod from a bank?

After the bank issues you an NDC, request the bank to release all your property-related documents you have submitted with the bank. Usually, the bank gives you a List of Documents (LOD) that you submit at the time of taking a home loan. Crosscheck the list as you receive the documents submitted for any omissions.

What happens after deeds registration?

Once registered, the buyer will finally be the owner of the home and the seller will be paid the net proceeds. The transferring attorney will send the original title deed to the buyer’s bank. If, however, the buyer doesn’t have a bond, the title deed will be sent directly to the buyer.

What is LOD letter from bank?

Usually, the bank gives you a List of Documents (LOD) that you submit at the time of taking a home loan. Crosscheck the list as you receive the documents submitted for any omissions.

How long does it take to get Lod?

for processing an LOD request is 10 business days, though an OCMI could accommodate a quicker turnaround if their workload permits. In every case, however, no work should be performed in the position or by an individual until the LOD has been issued.

What to do if you have lost the original sale deed?

There is no reason to panic because you could get a duplicate copy of the document made, following certain simple steps. However, it would be best to start the procedure to get a duplicate sale deed as soon as you realise you have lost the originals.

How do I get a duplicate copy of a sale deed?

The bank will submit Police FIR, Duplicate Share Certificate from Housing Society, the Newspaper advertisements and the undertaking at the deputy registrar’s office. Bank will pay the required charges. Registrar will then issue the duplicate copy of the sale deed.

What to do if original property documents lost by the bank?

If you find out that Original Property Documents Lost by Bank then kindly destroy any acknowledgement/undertaking signed by you. Ideally don’t sign the acknowledgement without checking all the documents. Remember once you signed the acknowledgement you can’t claim that document/page is lost by the bank.

What happens if a property deed is misplaced?

Once the document or page/s are misplaced then the owner will find it very difficult to sell the property or avail loan against property. The buyer of the property will not get Home Loan easily as the banks suspect that property might have been mortgaged with some other lender specially if entire document like sale deed is missing.