We have a Flat property in my father's name. The said property was mortgaged in a cooperative bank for a decade and the bank is currently under liquidation. We were supposed to pay around 7 lac with interest and penalties.
About six months ago my father-in-law offered finaicial help, then we negotiated with the bank and settled our loan for around 5 lac and recieved Registry documents and NOC from the bank.
I've opened an RD a/c in the name of my father-in-law and depositing money in it so that I can pay back to him. He suggest that I should name the property in my name.
Now the question is what and how to do? Whether we should go for a sale deed and register the property in my name or my father gifts the property to me and I go for registration.
Which one would be the best and money saving option?
Please suggest..
