Main certificate for bank loan :-
Original document, previous document, Encumbrance Certificate, Possession Certificate, Land & Building Tax receipt, Location Map , and Non-attachment Certificate.
Encumbrance means the charges or liabilities created on a particular property, whereby it is held as a security for any debt of its owner which has not been discharged as on date. The certificate can be obtained from the concerned Sub-Register Office on an application in a prescribed form provided by the authorities .In the normal course it will take around 2 weeks for obtaining the certificate. Government Authorities and Financial Institution like bank, etc... demand 13 years of encumbrance. There will be a nominal fee for obtain, it depending upon the number of years. In an emergency there is a provision for paying " double fees" for getting it immediately. This certificate will show the genuiness of owners tittle....The normal course the certificate will be full proof document, but there can be clerical errors from the Sub-Registar Office, our vigilances can check this error. Therefore, it is always advisable to inspect the property personally and to verify and confirm that the original title documents are available with property owner. Some additional safeguards like paper notification, searching in jurisdictional courts for any pending cases would be useful.
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