However, it could possibly create problems sooner or later throughout resale. To be on the safer facet, it’s higher to get this completed quickly after mortgage closure.
Most financial institution web sites and credible information retailers like Business Standard additionally spotlight this as an necessary step.
One small however necessary distinction to know-
An Encumbrance Certificate is issued when there’s a mortgage, declare, or legal responsibility on the property.
A Non-Encumbrance Certificate is issued when the property is free from any such claims.
[Anushka Rathod, Finance, House, Bank, Loan]
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