Title: The Process of Land Mortgage Removal from Khatauni after Filling a Kisan Credit Card Loan
Introduction:
For farmers in India, access to credit is a crucial aspect of agricultural development and financial stability. The Kisan Credit Card (KCC) scheme has been a game-changer in providing farmers with affordable credit and empowering them to meet their agricultural and financial requirements. However, one important consideration that arises when availing a Kisan Credit Card loan is the mortgage of land. In this article, we will discuss the process of land mortgage removal from Khatauni after filling a Kisan Credit Card loan.
Understanding Kisan Credit Card Loans:
The Kisan Credit Card is a unique financial product designed specifically for farmers. It offers a flexible credit facility to farmers for their farming and allied activities, enabling them to meet various expenses related to agricultural inputs, crop storage, insurance, and more. KCC loans are typically secured by creating a mortgage over the agricultural land in question.
Importance of Land Mortgage Removal:
Once a farmer has availed a Kisan Credit Card loan and the necessary funds have been disbursed, the land is initially mortgaged as collateral security. However, it is vital for farmers to remove this mortgage from the land as soon as the loan is repaid. Removing the mortgage allows farmers to have a clean ownership title over their land, enabling them to use it for any future financial transactions such as taking additional loans, selling the land, or leasing it out without any encumbrances.
Process of Land Mortgage Removal from Khatauni:
1. Loan Repayment: Firstly, ensure that the Kisan Credit Card loan has been completely repaid, including the principal amount and any outstanding interest.
2. Documentation: Collect all the necessary documents related to the KCC loan, such as loan sanction letter, loan repayment receipts, and any other supporting paperwork provided by the lender.
3. Visit the Concerned Office: Approach the concerned revenue or agricultural department office where your Khatauni (land record) is maintained. There, you will need to inquire about the relevant procedure to remove the land mortgage.
4. Application Submission: Submit a written application to the appropriate authority, requesting them to remove the mortgage from your Khatauni. Attach all the required supporting documents along with the application to validate the repayment of the KCC loan.
5. Verification Process: The authorities will scrutinize your application and perform the necessary verification to ensure that the loan has been fully repaid. This may involve physical inspection of the land, verification of loan repayment receipts, and cross-checking with the concerned lending institution.
6. Mortgage Release Order: Once the verification process is complete and all requirements are fulfilled, the competent authority will issue a “Mortgage Release Order.” This order signifies the removal of the mortgage from your land and updates the Khatauni accordingly.
7. Updated Khatauni: Obtain a copy of the updated Khatauni, which should now reflect the absence of any mortgage or encumbrance on your land.
Conclusion:
Removing the land mortgage from your Khatauni after repaying a Kisan Credit Card loan is a crucial step for farmers to regain full ownership of their land. By following the aforementioned process and completing the necessary documentation, farmers can enjoy the benefits of a clear land title and pursue future financial activities without any encumbrances. It is advisable for farmers to seek guidance from the appropriate authorities or consult a legal professional to ensure a smooth and hassle-free process of mortgage removal.