Home ownership transfer.
Awadesh
(Querist) 21 June 2015
This query is : Resolved
I've taken a home loan, for the property at jalandhr,punjab, with my elder brother and father. My brother is the main applicant of the loan. we all three have the name in property registry. problem is that I'm only one who is paying the installment since start. so what I want to remove the name of other from loan as well as property registry. I went to bank for the same but they said that they can not do this and can't provide registry for transfer. please suggest any way
MAMTA
(Expert) 21 June 2015
you have to first clear your outstanding loan because as the main applicant is your brother. thereafter your brother and father has to execute deed of gift and register the same in your favour.
Awadesh
(Querist) 21 June 2015
Thanks ma'am, can't I get the deed of gift before payment of loan Because I am not in condition of paying all amount at once. I 've no froblem staying their name in loan.
Rajendra K Goyal
(Expert) 21 June 2015
Bank would not remove any name till its loan is fully paid. However you can get the relinquishment / gift deed registered by them in your favor, if hey agree.
Kumar Doab
(Expert) 21 June 2015
Agreed with experts.
They can even pay the amount of loan cleared so far to you.
Awadesh
(Querist) 23 June 2015
What is the cost of deed of gift
