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Prasoon (Software Engineer)     11 July 2012

Registry of flat on mother name if loan not on mother name

Hi ,

I have a flat booked and housing loan is on my father and my name. Now after getting the possesion i want to get this flat registerd with my father and mother name? My first question is will it be possible? If yes then what should I do for this? Mother name is not in bank housing loan which my father and myself are paying.

Thanks,

Prasoon



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 5 Replies

Adv Rohit Dalmia 9324538481 (Lawyer)     11 July 2012

Dear Prasoon,

 

Need to know few details about the Property.

 

You may call on 09324538481 for further discussion.

 

Regards,

Anjali (student)     11 July 2012

You can not as the amount of loan is still pendig. Though you can transfer the property "unofficially" by exeuciting a deed in intrest of your mother. Your share of ownership can only be transferd when you repay the total amount, the property itself being the security of the loan. Officially, you are still on the hook - financially responsible for repaying the loan along with your father.

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Bharatkumar (ADVOCATE )     11 July 2012

U r take a loan from bank and documents are registered at registrar office if the procedure is not start then u enter your mother name in possession letter i mean property is your name, your father name and now enter your mother name but u can not delete your name and your father name. First u meet a concern authority person and bank manager if they r agree with u then u enter your mother name with your name and your father name and registeration a document at registrar office.    

1 Like

Prasoon (Software Engineer)     11 July 2012

thanks everyone for reply! It was really helpfull.

Anish Thakur 7018812737 (advocate)     11 July 2012

dear prasoon,

yes you can transfer the flat on your mothers or anyones name and registry will go done but the loan will remain liable on your head and fathers head.

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