Reconveyance for House Building AdvanceReconveyance:-After the advance together with interest thereon is repaid in full , the property mortgaged to the Govt. will be reconveyed to the official in the prescribed format [Form No.7 - Vide Rule 8 (d)]. The reconveyance deed shall be executed by this Head of department who ge'nerally accepts the mortgage deed on behalf of the President. Registration of reconveyance deed is compulsory.
The Expenses in connection with the exection and registration of the reconveyance deed shall be borne by the official concerned. After the reconveyance deed has been executed and registered, it shall be made over to the concerned along with the mortgage deed, sale deed and other documents deposited by the official. In case of Govt. servant dies interest and the advcance is recovered from gratuity or otherwise, reconveyance may be made to the heir. If there are more than one legal heir reconveyance can be done in favour of one them, after obtaining no objsction affidavit from others.
No comments:
Post a Comment