Hypothecation Cancellation Affidavit – HP Cancel Affidavit Sample

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• Sample Letter
• Live Editing Assistance
• How to Use Live Assistant
• Additional Template Options
• Download Options
• Share via Email
• Share via WhatsApp
• Copy to Clipboard
• Print Letter
• FAQs

Sample Hypothecation Cancellation Affidavit

AFFIDAVIT

I, ____________ (Vehicle Owner Name) S/o, D/o, W/o __________  Residence of ________ (Vehicle Owner Address) do hereby solemnly affirm and declare as under :-

1. That I the owner of Vehicle ___________ (Vehicle Details) bearing its Registration No. ______________ (vehicle registration number).
2. That the said vehicle was financed with ____________________ (Bank/Company Name from whom vehicle was financed)
3. That I have paid full and final loan ______ (EMI /Installments) of the said vehicle to the said financer.
4. That the financer has issued the _____ (Form No. 35) along with the _______ (NOC – No Objection Certificate /Letter) of termination.
5. That the H.P. (Hypothecation) may be canceled in my registration book and as well as in records also.

DEPONENT

VERIFICATION:-

Verified that the contents of my above-said affidavit are true and correct to the best of my knowledge and belief and nothing has been concealed therein.

DEPONENT

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FAQs

• What is hypothecation cancellation?
  • Hypothecation cancellation refers to the process of removing the financier's claim on a vehicle once the loan has been fully repaid.
• What documents are needed for hypothecation cancellation?
  • Typically, you would need Form No. 35 and a No Objection Certificate (NOC) or a termination letter from the financier to initiate the hypothecation cancellation process.
• Can hypothecation be canceled only in the registration book?
  • No, hypothecation should be canceled both in the registration book and in records maintained by relevant authorities to ensure it is completely removed from official records.
• Do I need to pay any fees for hypothecation cancellation?
  • Fees may vary depending on the jurisdiction and the institution handling the cancellation process. It's advisable to check with the concerned authority or institution for the exact fee structure.
• What should I do if there's an error in the hypothecation cancellation process?
  • If you encounter any errors during the hypothecation cancellation process, you should immediately notify the relevant authorities or the financier to rectify the issue. It's essential to ensure that all documents and records accurately reflect the cancellation of hypothecation.

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