What is Legal Scrutiny Report or Search Report or Title search Report For Loans
In the aftermath of COVID-19, when economic condition not only of the nation but also of the Individuals has been disestablished. Everyone requires financial support, Whereas there are various means for the government to bolster the economy. Individuals either take the loans from the money lenders at an exorbitant rate of interest or he may borrow from the Financial Institutions Such as Banks or NBFC's (Non-Banking Financial Companies). For the loan/debt by the banks, they often ask for the various documents viz. Identity card, Bank Statements, PAN Card and Legal Scrutiny Report, etc. Among these documents, the most prominent is the Legal Scrutiny Report. Herein I will deal with various facets of the legal scrutiny report. What is Legal Scrutiny Report (LSR) or Search Report or Title Search Report (TSR) Legal Scrutiny Report is an account of immovable property (Which may be offered as collateral security or on which charge or mortgage sought to be created) prepared by the d