Gift deed bangalore.
Lone Rider
(Querist) 05 January 2014
This query is : Resolved
Dear experts, i will be in court soon for my divorce. Before that i want to gift my property.
1. house on my name with a bank loan for 20 years.
2. land on my name, no loans clear tiles.
both are in Bangalore. Need advice on this can be done ? and finally gifting to my Father ASAP.
ajay sethi
(Expert) 05 January 2014
contact a local lawyer . get gift deed prepared by him . have it fduly stamped and registered .
please cross cxheck whether your agreement for taking loan from bank contains a caluse that prior consent of bank is necessary for creating thrid party rights or not
Devajyoti Barman
(Expert) 05 January 2014
If the property is in mortgaged with Bank then you without the permission of bank can not gift it.
Rajendra K Goyal
(Expert) 05 January 2014
The property is mortgaged with the Bank, it can not be gifted without prior permission of the Bank. Land you can gift as you have clear title.
R.V.RAO
(Expert) 16 February 2014
yes only land can be gifted as u have clear and unencumbered title.
this is not the case with house as bank mortgage is existing.you cannot gift an encumbered asset .
gift deed needs to be registered. but registrar while registering the gift
needs to record the property is free of any charge,which in your case is not true.
