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Author Topic: I am the nominee and am paying the EMI for Dead Brothers flat  (Read 713 times)

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Offline rockstar

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My elder brother died recently, he was unmarried, he had purchased a flat taking home loan. he had made me nominee of the flat. Now after his death I am paying the EMI.
The bank had advised immediate foreclosure of the loan account. on this regards I sent a letter to the bank stating that full repayment at one go is beyond my means.
 I understand that till the loan is not repaid, the papers will remain in possession of the bank. But if I can pay up, will the papers be handed over to me?

Offline Advocate-ashoksen

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Re: I am the nominee and am paying the EMI for Dead Brothers flat
« Reply #1 on: May 29, 2015, 03:53:33 AM »
Upon your repayment of the loan, the bank is liable to give you a loan clearance certificate or a letter along with the entire file of loan-related papers, which includes the original deed of conveyance, agreement of sale if any, and all other documents that your brother had deposited. At this juncture, you should have the documents that show the transfer of the loan in your favour.
Advocate Ashok Sen Calcutta High Court

 

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