Many people take out home loans from banks to purchase their homes. In these cases, the original documents related to the home are deposited with the bank. These documents remain with the bank until the loan is repaid. However, this can raise questions about the ownership of the home. How can we prove that we are the legal owners of the home when the original documents are with the bank? To do this, it's important to know some essential documents.

Why does the bank keep the original home documents?
When taking out a home loan, the property in question is pledged to the bank as security for the loan. Therefore, the bank retains the original home documents. This does not mean that the bank transfers ownership of the home. After the borrower repays the loan, the original documents can be retrieved from the bank. Additionally, a loan repayment certificate and NOC should also be obtained.

What documents are required to prove ownership?
Sales Agreement: The sales agreement, prepared when purchasing a home, is an essential document in any property transaction. It contains the buyer and seller's information, as well as the property's details.

Old ownership documents: Old documents help in understanding who owned the property earlier and how its ownership was transferred.

Change Records: Change records can provide information about who owns the property in the revenue or relevant local administration records. However, these records alone are not definitive proof of ownership.

Property Tax Receipts: Receipts of regular house tax payments are useful for property-related records.

Electricity and water bills: These documents related to household usage, electricity and water bills can serve as supplementary evidence.

Bank Documents: Home loan agreement, loan sanction letter and receipt of submission of original documents should be preserved.

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