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Re: Redemption Statement Cum Undertaking Property: Borrower (S) /vendor (S) : Purchaser (S)

1) The letter is from a law firm representing a borrower requesting a redemption statement from a bank. 2) The borrower had purchased a property and obtained a loan from the bank to finance the purchase. 3) The borrower has now agreed to obtain a new term loan and is requesting a redemption statement from the bank stating the amount to pay off the original loan and an undertaking to discharge the charge on the property's title once payment is received.

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Nurhasbilahliyana Mohd Zainal
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7K views1 page

Re: Redemption Statement Cum Undertaking Property: Borrower (S) /vendor (S) : Purchaser (S)

1) The letter is from a law firm representing a borrower requesting a redemption statement from a bank. 2) The borrower had purchased a property and obtained a loan from the bank to finance the purchase. 3) The borrower has now agreed to obtain a new term loan and is requesting a redemption statement from the bank stating the amount to pay off the original loan and an undertaking to discharge the charge on the property's title once payment is received.

Uploaded by

Nurhasbilahliyana Mohd Zainal
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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[Date]

[Name of Bank]
[Address]
Dear Sirs,

RE : REDEMPTION STATEMENT CUM UNDERTAKING


PROPERTY:
BORROWER(S)/VENDOR(S):
PURCHASER(S):

We refer to the above matter in which we act for the borrower.

The vendor has by a sale and purchase agreement dated sold the said property to
the purchaser.

We understand that the purchaser/borrower has obtained a loan from yourselves to


finance the purchase of the said property.

We are further instructed that the purchaser/borrower has now agreed to obtained a term
loan of RM from of

In view of the above kindly let us have your redemption statement stating the amount
payable to yourselves to redeem the property and your undertaking addressed directly
of for our onward transmission to them that upon receipt of the redemption
sum you undertake:

(a) To forward to us the original title and duplicate charge together with the duly
executed and registrable discharge of charge under Form 16N;
(b) To refund to us the said redemption sum in the event that the discharge cannot be
registered for any reason whatsoever;
(c) To forward to us any other relevant documents and
(d) To confirm that the property is not under any foreclosure proceedings.

Kindly acknowledge receipt of the above by signing and returning the duplicate hereof.

Your prompt attention in the matter would be much appreciated.

Thank you.

Yours faithfully,
Messrs

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