Procedure for return of property documents to the legal heirs

In case of contingent event of demise of the borrower

The procedure to address the contingent event of demise of the sole borrower or joint borrower(s) for return of property documents to the legal heirs is as under:

1. The persons who are entitled to claim the Title Deeds of a deceased borrower are his/her legal heirs, depending upon the Personal Law by which the deceased borrower was governed.
2. The Bank shall not insist on legal representation from the legal heirs for delivery of Title Documents, except in cases where disputes exist among legal heirs, or all heirs do not jointly indemnify the Bank, or where the Bank has reasonable doubt about the genuineness of the claimant(s).
3. A request letter from the legal heirs along with KYC documents and the Death Certificate of the deceased borrower(s) is required for return of the title documents.
4. An Affidavit-cum-Indemnity executed by all legal heirs of the deceased borrower(s), on Non-Judicial Stamp Paper and duly notarized, must be submitted at the time of delivery of title deeds.
5. In cases where there are multiple legal heirs and delivery of documents is requested to be made to fewer heirs, a stamped Disclaimer Letter must be executed by the remaining heirs and notarized. This applies only to Class I heirs (Son, Daughter, Widow, Mother, Son/Daughter of predeceased son/daughter, etc.).
6. A receipt executed by all legal heirs and any surviving borrower(s), if applicable, must be submitted at the time of delivery of title deeds.
7. The Legal Heir Certificate issued by a competent authority or court, wherever available, must be submitted. Legal heirs possessing such certificate shall submit the same along with KYC documents and a covering letter for return of title deeds.