Purchasing house.

Madhur Singh (Querist) 22 October 2012 This query is : Resolved
Respected Sir, Previously a residential house owned by Sri haneef. Then he executed a unregistered Hiba-Naama on 10 Rs. stamp paper in favour of Smt. Rashida there is house and water tax receipt from nagar palika parishad, which shows that house has been mutated in favour of Smt. Rashida. Is above Hiba-Naama is legal?
Can bank grant me loan to purchase this house?

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adv. rajeev ( rajoo ) (Expert) 23 October 2012
Oral gift is valid under the MOhd., Law, but here it is written down, so it requires registration under the Indian registration act.
Very important is taking possession of the gifted property

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