Bank Loan on gift deed...

1. on the strength of the gift deed you can avail loan from the banks

2.it is depend upon the rules and procedure of the bank,

3.your father has to register

4. if  document executed and registered in normal circumstances, your father has no right to take it back

The answer to above queries is given below:

1. Yes you can take bank loan without any hindrance on the basis of registered gift deed.

2. It depends on bank to bank as certain time is taken in processing as well as in taking legal opinion and valuation report.

3. At the time of registration your presence is required befor the office of District Sub Registrar.

4. No your father cannot take back the same until unless you return the same to him through registered deed.

Dear Sir,

We have a 180sq yards of property (Plot) in Hyderabad under my Uncles name. And my uncle wants to transfer the property through gift deed, so far so good. But now my dad wants the gift deed to be under my name and also his name instead of my husband. All I want to know whether this will create any kind of legal complications in the future (since my husband is excluded) and also to avail a loan against the property. Please clarify ASAP.

Thanx,

Savitha