I.
Opinion on Flow of Title
1. Brief History of the property and how the
owner/mortgagor has derived the title – Flow of title is to
be given chronologically for a minimum period of 30 years
(If space is found insufficient, please furnish information
in an additional sheet)
2 Describe the nature of title (viz., full ownership
rights,leasehold rights, occupancy/possessory rights or
any other)
If the title is leasehold rights, state
a. Whether the lease deed has been registered as
required under Law
b. The period of lease
c. Whether any permission/NOC from lessor is required
for creation of mortgage.
3. Mention Minor’s interest, if any is involved. If
so, whether Court Permission (except in case of
HUF property) has been obtained for offering the
property as security
4. State here whether the mortgagor/title holder is
in unhindered possession of the property and if
so, the period for which he is in such
possession
5. Is/Are the property/ies free from encumbrances
6. Please give detailed account of creation of
charge /mortgage of Redemption for a minimum
period of 13 years and also state the subsisting
charge/mortgage if any, mentioned in the
encumbrance certificate for the last 13 years
i. The period covered under Encumbrances
Certificate
issued by the Sub-Registrar of
Assurances/search
made in the records/Registers of the office of
Sub-
Registrar of Assurances.
ii. Search in respect of companies registered
under the Companies Act, 1956
7. Whether Urban Land Ceiling Clearance is
required to be obtained before the mortgage is
created. If the ULC clearance has been obtained
for creating the mortgage in favour of the Bank,
pleased mention the number and date of the
proceedings
8. Whether permission for conversion of lands
from Agricultural use to residential/commercial
use is obtained wherever necessary. If
applicable, state the reference of the
proceedings
9. If the property sought to be mortgaged is
agricultural lands,
i. whether the land is within the ceiling
limit, fixed as per the concerned State
Land Reforms Law in force
ii. whether taking as collateral security
for non-agri purposes is possible
10. Whether from the documents produced, there
exists any pending litigation with respect to the
property offered as security. If yes, please
furnish details.
11. In case of Partition Deeds,
i. whether the same is registered under
the Law for time being in force and
original thereof if available for deposit
ii. in case original is not available and
the partition deed is made in more
than one copy at the time of
registration duly signed by all the
executants, whether
a. to get an affidavit/declaration from
the holder of the original partition
deed confirming the availability
with him and the original not
deposited with anybody as
security over the share of the
prospective mortgagor
b. the shareholder or predecessor in
title have been permitted to treat
their copy of the partition deed as
original for their share
c.
12. In case of inherited property, whether the family
genealogy ascertained and flow of title
considered in the light of such genealogy
bearing in mind the provisions of succession
laws applicable to the parties. The genealogy
must be sworn to by means of an affidavit by the
party/parties.
13. In case the mortgage is sought to be created by
agent under Power of Attorney, please state
whether
a. The Power of Attorney is registered
b. It authorises the Agent to deposit the title
deeds for creation of mortgage over the
properties of the principal for the loan to
be given to the prospective borrower.
c. Whether Power of Attorney empowers the
PA holder to borrow on behalf of the
principal
14. Whether up-to-date tax/cist receipts have been
verified and it is ensured that there are no
arrears of land/Municipal taxes, as the case may
be, over the property
15. In case of devolution of property by a will,
whether the will has been probated or letter of
administration is obtained
16. i. Whether the title deed under which mortgager
acquired title and parent title deeds are available
in original.
ii. In case the property purchased by mortgager
is portion of larger extent of property, whether
availability of original parent documents
confirmed.
17. If owner is a Company, Partnership Firm, Trust
or other legal person, what are the documents to
be obtained to create a valid mortgage (in terms
of Memorandum and Articles of Association,
Partnership Deed, Trust Deed or rules of bye
laws)
18. If property / ies to be mortgaged is / are flat /
apartment in residential or commercial complex,
how far independent title is ensured and how the
enjoyment of common areas and facilities are
ensured to the flat owner (mortgagor);
What are the documents of title available for
creating mortgage? List out other documents /
records to be taken from builder / owner and
their Bankers.
19. Whether search is made in the registers and the
records maintained in the office of Collector
and / or Revenue authorities / Municipal
Corporation / Town and Planning Dept and the
Civil Court (whichever is applicable to ensure
a. necessary consent of Civic Body or
authority to transfer the property was
obtained.
b. No litigation in respect of the property to
be mortgaged is pending before any
Forum
c. Identity of the property has been
established and there are no
circumstances which would create
doubts or suspicions, e.g., any material
document is alleged to be lost or any
document bears any marks or
endorsement indicative of having been
earlier tendered in evidence in a Court or
produced as surety
20. i. If a property is a building, is the plot in an
approved lay-out
ii. Has the building been constructed after
approval of plan
by relevant authorities and assessed to Tax
21. If the flat is owned/controlled by society, specify ---
special requirements to be taken
Opinion of Creation of Mortgage
22. Whether the mortgage by deposit of original title
deeds is possible on the strength of the title
deeds scrutinised. If so, the list out the
documents to be deposited for creation of
equitable mortgage over the property offered as
security. The person(s) who shall deposit the
title deeds with the bank may be stated.
23. If the equitable mortgage by deposit of title
deeds is not possible, can there be a simple
(registered) mortgage. If so, list out the
documents to be held with the bank in addition
to the registered mortgage deed.
24. Any other opinion on simplified
procedure/remission of stamp duty for creation
of charge over agricultural / other properties in
favour of Commercial Banks as in some states
like U.P., Karnataka etc.
