Dear Sir/Madam,
My husband had bought a property in his father's name. It is on a loan. He is paying the EMI's. We want to transfer the property to our names. (Me and my husband). But the registration cost (registration + Stamp duty) seems to be higher which we are finding difficult to afford. The property's value is 3500000 and the outstanding amount is 2300000. It is a term loan.
We have a few questions.
1) Would you please suggest a cost effective way of transfering it to our names?
2) If we are able to pay some part payment, will that have any effect on the cost of name transfer.
3) What is settlement deed? Does it mean that the receiver will not have any other share in his father's property?
1) Would you please suggest a cost effective way of transfering it to our names?
2) If we are able to pay some part payment, will that have any effect on the cost of name transfer.
3) What is settlement deed? Does it mean that the receiver will not have any other share in his father's property?
