What happens if you misplace a crucial document such as your property's sale deed? We all understand the significance of a sale deed. Let's learn more about how to receive a certified copy of the sale deed from the bank in this post.
Get an affidavit from the bank regarding the documents that were misplaced. Through your banker or financial institution, request an encumbrance certificate and a duplicate certified copy of the sale deed.
A sale deed contains practically all of the information needed to complete a property acquisition or sale. Most crucially, the sale document would require the owner to verify that the property being sold is free of all liens and encumbrances.
It is difficult to sell or buy a home without it, and it is also difficult to obtain a home loan on such a property. There have been a few occasions where banks or lending organisations have misplaced the property’s original documentation.
How to Get a Duplicate Sale Deed
It’s worth noting that the search for the missing paper would come first. The two measures in that approach are filing a police report and publicising the loss of the sale deed in national newspapers. You can’t ask the sub-registrar for a duplicate copy of the document since he’d need proof that you’ve genuinely misplaced the papers and that your efforts to locate them have failed.
1. Lodge a Police Complaint
- The initial step is to submit an FIR (First Information Report) at the nearest police station where your property documents have been misplaced
- Please keep in mind that only the property owner is required to submit an FIR indicating that the property papers have been misplaced, lost, or stolen
- If you provide your mobile number when filing a police report, you will be able to check its status online afterwards
- It is recommended that you save a copy of the FIR for future reference. In the future, your property’s potential buyer (s) or bankers may request it
- Please be aware that the Supreme Court recently ordered all state and union territory police departments to post First Information Reports (FIRs) on police or government websites within 24 hours of their registration in police stations
- As a result, after you file an FIR at any police station, you can check the facts and status of the FIR online.
2. Put an Advertisement in the Newspaper
- You must place a “Misplaced & Found” ad in both a national and local newspaper, explicitly stating the facts of the lost document as well as your contact information
- The publication of an advertisement is required by law. Before putting up a Lost & Found ad, you may be required to provide an affidavit or a police report to the newspaper agency
- As proof of loss, retain a copy of the complaint as well as the press clippings with you
- You may have to wait for 2 to 4 weeks after placing the ad to see if anyone finds your property paperwork and returns it within the time frame you specified in the ad.
3. Get an Affidavit Ready
- You must write to the sub-registrar where the property was registered on plain paper, alerting them of the missing sale deed and all other details surrounding the incident
- You’ll also need to write an undertaking, saying that everything in the affidavit is accurate
- This affidavit, along with one copy of each of the FIR, non-traceable certificate, and newspaper advertisement, must be attested and registered with a public notary.
4. Apply and Get a Certified Copy of the Sale Deed From SRO
- To obtain a certified copy of the sale deed, you must go to the Sub-Registrar Office (SRO) where the property is registered and submit an application
- They will request that you place an ad in the national and regional (local) newspapers about the loss of the sale deed
- You must pay the prescribed fee, which varies from place to place
- Along with the application for a copy of the sale deed, include the police FIR document, copies of the ads, and an affidavit
- The office of the Sub-Registrar will accept your application for a duplicate copy of a sale deed after reviewing the papers
- The duplicate copy could take anywhere from 15 to 30 days to arrive
- Following that, certified copies of the selling deed are used in place of the original.
What to Do if the Bank Has Misplaced Your Sale Deed?
If you have taken a home loan from a bank and it has misplaced the original document, follow the steps listed below to get a sale deed copy from the bank:
- Send the bank a written complaint and retain a copy of their response
- Filing a police report against the bank is a good idea
- Place an advertisement in the newspaper
- Obtain an affidavit from the bank regarding the missing property paperwork
- Apply for an encumbrance certificate to ensure that everything is in order in terms of ownership and mortgage information
- Your banker or lending institution can provide you with a duplicate certified copy of the sale deed
- You might request that the bank cover all connected charges.
Takeaway
A sale deed is an important document that is required not only for performing transparent property transactions but also for obtaining loans. As a result, you should take prompt action to obtain a copy of the document in case you have mistakenly lost or misplaced it.
If you are looking to obtain a copy of your sale deed, Vakilsearch is a one-stop solution. Please visit our website for information on the services provided on the sale deed by our firm. Simply register yourself and an expert will reach out to you for assistance immediately.
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