Mortgage Removal.On December 16, 2019 by admin
A mortgage is a register established in the title deed with a debt relationship in order to provide assurance on the new debt transaction or existing debt. If the debt is not paid at maturity, upon the execution of the execution proceedings, the mortgaged asset is converted into money and all or part of the debt is paid. Banks can request a mortgage condition when a loan will be drawn from the banks. This is usually done in the housing loan used for the purchase of real estate.
In order to remove the mortgaged asset from the mortgage, all debt must be paid. Let’s take a look at the mortgage removal in order.
1. The total amount of the debt subject to the mortgage transaction must be paid. If the debt is not paid, the mortgage on the immovable cannot be removed.
2. An application is made to the bank for mortgage removal. The Bank conducts an examination of the payment of the debt.
3. After the positive return, the bank gives a mortgage notice letter. The mortgage slip letter is a document showing that all the debts of the real estate have been paid. As of 2013, there is no fee for these transactions. If the bank wishes to charge a fee, it has the right to appeal.
4. Some banks wishing to charge a mortgage Fek letter may add a clause to the housing loan agreement. If you have signed your contract without checking it, you may have to pay the requested fee. If the contract does not include such a clause, you should not pay.
5. Mortgage Fek letter, if the debtor pays the debt directly to the person as well as the deed can be delivered to the directorate.
6. The person who has received the Mortgage Fek letter should take this document to the Land Registry Office within one year.
7.Tapu Registrar’s Office will officially remove the mortgage after carrying out the necessary investigation.
Required Documents for Mortgage Fek Letter
-The title deed, if any, of the mortgaged asset, or a document indicating the island and parcel number of the immovable, or the oral declaration of the owner
– Identity card for real persons and tax numbers for legal persons with ID cards, passports or attorney ID of the creditor, debtor or authorized representative
– 2 pieces of creditors, 1 piece of debtor 6 x 4 cm. passport size
– If one or two parties are represented by proxy,