A Probate is a legal document that proves the successful transfer of property from one party to another. It basically is a certified copy of a will under the seal of the court. The requirement of a will to be probated depends on the following circumstances:
Wills that are made in the areas of Bengal, Bihar, Orissa and Assam and those within the local limits of the ordinary original civil jurisdiction of the High Courts of Madras and Bombay are needed to be probated.
Wills that are made outside these territories for the properties situated in these territories are also required to be probated.
Therefore, in this case, a buyer’s bank does not need the probate to grant a loan. However, it is advised to keep all the possible documents to avoid unforeseen issues.
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I inherited a property through Will from my uncle in Coimbatore. He passed away 6 months back. Is it required to probate the Will to sell the property. Will is registered. Can the buyers bank insist on the probate to grant loan?
Ambalavanan
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3 Year
2022-07-09T17:04:00+00:00 2022-07-11T12:46:28+00:00Comment
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