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HARDIK MULIYA   17 June 2019

Can i gift house which is on loan to my mother

I have a house taken on my name.

Currently bank home loan is running.

I want to gift house to my mother. She has no income

Is it possible to gift house to her but keeping loan on my name?

Or I need to pay off all loan dues before gifting?

 

 



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 2 Replies

Javed Ansari

Javed Ansari (Senior Partner)     17 June 2019

The bank's practice is to transfer the loan to your mother's name after the gift deed is registered. you shall be permitted to continue to repay as per the terms.
Shashi Dhara

Shashi Dhara   17 June 2019

After the loan is cleared then gift becomes valid.

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