Anonymous
in Civil Law Banking Law Property Law
Asked June 19, 2017

Loan from bank for dairy

  • 1 Answer
  • 334 Views

I am working in Punjab National Bank as a Agriculture Officer . I want to appraise a Loan for Dairy purpose against mortgage of Non Agril. Land . But in sale deed borrower name differ by his Original name in photo id's . Please Guide.

Answer 1

It is always advisable to mortgage full proof and verified deeds. You may suggest the borrower to get the mistake corrected via a rectification deed between the original parties. Otherwise you may rather, in the mortgage deed, enter the name of the mortgagee or the borrower as, "name in sale deed  alias name in photo id" indicating that the names belong to one and the same person ie., the borrower (if the names are similar and apparantly indicate a mistake). Such a signed and registered mortgage deed would in most probability stand as valid in a court of law.

Agree Comment 0 Agrees over 4 years ago

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