Mortgage Loan Package Inquiries, (Strictly NO Promotion Allowed)
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 May 5 2020, 08:39 PM
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#1
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Senior Member
733 posts Joined: Jan 2007 
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I need your kind advice. After we have made the final payment to settle our housing loan, the bank will return us all the documents and ask us to go see /appoint our lawyer. May I know what is the purpose of appointing a lawyer? Is it to discharge? What exactly does the lawyer need to do to discharge the property?
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May 6 2020, 08:29 AM
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#2
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Senior Member
733 posts Joined: Jan 2007
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QUOTE(vinceleo @ May 6 2020, 08:02 AM) The purpose is to remove bank claim on your property thus full ownership with you, beforehand bank own the right to the property and can sell off the property shall you default on loan. What does the lawyer do? Issue a letter to the land authority or city council? Or what to effect the discharge? |
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May 6 2020, 08:43 PM
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#3
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Senior Member
733 posts Joined: Jan 2007
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QUOTE(vinceleo @ May 6 2020, 08:08 PM) Your lawyer will pretty much represent you to liaise with bank’s lawyer on removing the bank interest from your property so when you transfer / sell your property is much easier as bank consent no longer require Thank you very much |
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