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BLOCK ATM CARD 18001030 & 18004250018 Tenders Get Your CKYC ID Card
BLOCK ATM CARD 18001030 & 18004250018 Tenders Get Your CKYC ID Card
Immediately after closure of the loan either by full repayment / settlement by the legal heirs, letter should be addressed to the legal heirs of deceased borrower/s / mortgagors.
For processing of such claims, branches shall obtain claim application. Legal claimants should mention the Description of Property documents intending to receive, in the Claim application. Branches to ensure that, property documents mentioned in the claim application are deposited with the branch as security. While submitting the claim, copies of property documents to be sent along with death claim papers to the competent authority as per delegation of powers.
After getting the sanction from the competent authority, branches to return / release the original / certified copies (if any) of movable / immovable property documents by obtaining the receipt executed by all the eligible legal heirs or any Authorized person who is authorized to receive such documents by all the remaining legal heirs / claimants. Branches to take utmost care in returning / releasing Original / Certified copies (if any) of Movable / Immovable Property Documents in favor of legal claimants. The confirmation certificate /receipt shall be obtained from the legal heirs/ authorised person/ claimants upon release of the securities.
In case if there are simultaneous claims by borrower/s or mortgagor/s or their legal heir/s holding any decree, order, Succession certificate or other authority from a court of competent jurisdiction relating to returning / releasing of Original / Certified copies (if any) of Movable / Immovable Property Documents, the Branches shall take due note of such decree, order, certificate or other authority of court and abide by such order. However, if a Court Order restrains the Bank to release such documents to borrower/s or mortgagor/s or their legal heir/s, the order shall be obeyed and the same has to be brought to the notice of respective Regional Office immediately.