Gift deed or settlement deed, where house is under bank loan

BALAJI S N (Querist) 09 May 2019 This query is : Resolved
Dear Sirs,

Could you please clarify, am having house under bank loan.

I need to gift the same to my wife or Son?

Can I execute gift Deed? or General Power of Attroney to do her own wish in near future.

Pls guide me

Thanks
Balaji

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DR.VEDULA GOPINATH (Expert) 10 May 2019
You can execute gift deed.

krishna mohan (Expert) 10 May 2019
Gift deed you can execute. But they can not enforce their right to sell unless the loads are repaid and mortgage deed released. You can write a will too.

Dr J C Vashista (Expert) 11 May 2019
Before executing gift deed you will have to clear encumbrance on the property, no defective donation shall be acceptable to any donee.

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