Need direction for transfer of Flat from the one person to another

Querist : Anonymous (Querist) 02 August 2011 This query is : Resolved
Respected Experts,
I am junior advocate and i need help for my client regarding transfer of flat in his name.

1) my client is younger brother and elder brother having flat in his name and agreement for sale registered in his name and also loan is on elder brothers name.

2) but my client who is younger brother have paid payment of and flat and also of loan amount fact is that my client could not get loan on his name so the loan and flat was registered on elder brother name because he get loan from the bank now both mutually agree to transfer flat on younger brother name
3) whether it is possible to make gift deed or transfer deed on younger brother name or first of all loan should be paid before the above transfer.
4) and after making the deed of transfer of flat that will be transfered on younger brother name

please suggest me how i should make above transfer.

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ajay sethi (Expert) 02 August 2011
1) it would be advisable to repay loan first . when bank gives loan share certificate and original documents are placed in bank custody . repay loan obtain NOC from bank
2) then have gift deed executed by elder brother in favour of younger brother

Raj Kumar Makkad (Expert) 02 August 2011
I have similar opinion as of sethi.

M/s. Y-not legal services (Expert) 03 August 2011
Great anonymous.. For your kind information, untill disclose the bank loan legally you can't make any arrangement regard the flat. Otherwise the bank will sue against both brothers. Elder brother is responsible as a debtor, and your client will be responsible as a subsequent encumberer.

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