sanjeev pawar (service) 27 December 2012

Can property bought on loan be transferred to co borrower

dear members,

pls advice,

can i transfer of gift deed my share of property (one bedroom flat) to my brother while the loan is still being repaid?

we both are co borrowers for the loan, he is paying the emi as of now, i initially paid some amount, but now only he is paying.

i asked the bank, the bank tells that the only way it can be done is by closing this loan and taking a new loan, which is not possible for me

if yes? what is the process,

if no. then what is the way out, can i gift deed, or something else, without selling the property.

I have filled for a divorce case, hence can wife now lay claim on the above property in terms of ownership, what is the way to prevent right to residence to wife, ? she is hell bent on making my life miserable and is eyeing my flat since first day of marriage. time and again she has told me to drive my brother away and take full ownership of this flat, she said that if she had known that this was a joint ownership flat, then she would not have married me

dear members, pls suggest how can i save my flat from going in her hands.

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2 Replies

Tajobsindia (Senior Partner ) 27 December 2012

My 2 cents;

1. You are unnecessarily worried husband here and overreacting to her statements right from day 1 of marriage.

2. Let her eye not only to your self-contributed co-shared with brother reference property in question but openly challenge her to even eye on all your organs (lungs / kidney / eyes / pancreas / bone marrow / tissues) too and that also give her ownerwhip of all these body parts too.

3. She has no right over reference property at all under any present Hindu Laws except R-T-R that also if PO granted in her favour under DV Act complaint case and if so then welcome her to live in stated 1 BHK with all PO’s allowed in her favour as provided under DV Act. However a competent Court should be made aware of 1 BHK co-applicant (EMI payer) rights too including true copies of registration / bank documents submitted in Court as well informing Court about relationships with you of all other relatives as residents living in there too and the moment you donot reveal all these openly to competent Court you will have more issues cropping in future. There is no need to change loan conditions as asked in your query. No need to hide EMI contribution in any of the maintenance cases. What all liabilities a husband has all of them need to be stated openly in a Court of law and remember you as a husband is not required to hang yourself the moment once wife goes to Court under some agitation well known to herself.

4. Under the Hindu Laws such as HMA as well as under Hindu Succession Act as these two laws provide for settlement of property jointly owned by both parties which they were presented to them at the time of marriage and your facts are different so rest in peace for the first time in your current disturbed marital life.

5. The rights of wife are for monthly maintenance, permanent alimony and maintenance and right to residence against her living husband, she has no right to claim any share in any of the properties of her husband during his lifetime and even after his death she gets one share only whereas all the sons and daughters of the Hindu male also get one share each as his mother too can claim one share all this only if this Hindu male dies intestate i.e. without making any testamentary document devolving his whole property to someone else. Your current stage has not reached HERE !

5.1 For R-T-R which is allowed only under DV Act, offer her substitues such as rent in lieu of R-T-R that also in stated 1 BHK where you + your brother and relatives are all living and if R-T-R is given in this place then chances of violation of PO is bound to happen and if these inferences are drawn in DV Act hearing court then one can prevent R-T-R in reference to context property.

If you under stand above correct position of related Laws applicable in your case then don’t ask same question again with few syntax changes in various forums.

1 Like

fighting back (exec) 27 December 2012

@TAjobs.......thank you very very much sir, i really apreciate your advice given here. and i am very much relieved by your opinion, you will not believe sir, but this woman has really made my life miserable,what i thought was, the last nail in my cofffin will be the taking away of my property, but your resolution to my query has relieved me a lot......

i indeed would like to thank you for your valuable advice and suggestion.........:)