Housing doubts clear me

Querist : Anonymous (Querist) 28 May 2024 This query is : Resolved
G+1 house loan was registered in my name can i register 1st floor to my brother with existing loan.
Or
Any other gift deed or agreement please suggest

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kavksatyanarayana (Expert) 28 May 2024
No transfer deed will be entertained when a property is under loan.

T. Kalaiselvan, Advocate (Expert) 28 May 2024
Until the housing loan is fully discharged you are not the owner of the house property.
The lender bank is the owner till then.
Therefore you may have to first discharge the entire loan amount, get the mortgage loan released by a registered deed after which you can partition the house into two segments, and then you can transfer one segment to your brother by a registered gift deed as desired.

P. Venu (Expert) 04 June 2024
Have you consulted the Bank concerned?

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