Registration in spouse's name

R chitra (Querist) 01 April 2015 This query is : Resolved
My husband has a site in his name which is under construction for which he has taken loan. The land document is mortgaged. In the mean time, due to personal issues, I would like this property to be registered in my name. Kindly clarify, whether it is possible .Can this transaction be done through a gift deed.
Thanks & Best Regards Stella

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Devajyoti Barman (Expert) 01 April 2015
YES, YOUR HUSBAND IF SO WILLING CAN GIFT THE LAND TO YOU THROUGH A DEED OF GIFT.

Rajendra K Goyal (Expert) 01 April 2015
Your husband can gift it with the consent of the Bank, better get the Bank loan cleared first and the property be free from any encumbrance.

Dr J C Vashista (Expert) 02 April 2015
Do not be selfish, have faith and regards for your husband, forgetting petty issues.

ajay sethi (Expert) 02 April 2015
bank consent would be necessary before third party rights can be created by your husband

malipeddi jaggarao (Expert) 02 April 2015
Bank will not give consent for registration in your name. The entire loan liability can be transferred if you fulfill the creteria like repayment capacity etc. What are the reasons for this proposal?

T. Kalaiselvan, Advocate (Expert) 05 April 2015
Since the property is already mortgaged with the bank, the bank will be the owner of the property till the loan amount is cleared, so dont try any gimmick until then.

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