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Pravin Pawar   24 January 2019

Home loan in gift deed property suggestions please.

Hello Everyone..!! 

My father is planning to give one house as gift and is excuting gift deed accordingly and registering it on my name.If he registers that gift deed on my name ..

1.can i transfer the ongoing bank loan on my name or my wife name as co-applicant, with different bank on that property gifted to me

2.how many days it may take usually for this process? 

3.if my father gives me gift, will he generally register it or shall i have to register ( usually how people gift)

4.if my dad will transfer the house on my name as gift deed. can I add as co-applicant to my wife for repayment as she is working in government sector.



please advice

Regards
Pravin Pawar


Learning

 1 Replies

kavksatyanarayana (subregistrar/supdt.(retired))     24 January 2019

Is the property of your father self acquired or ancestral?  1 and 4. If your father gift the property to you and your wife then you both can take bank loan, if your father gift the property to you only then you only apply for bank loan and your wife may sign as guarantor. 2.  You have to enclose all required material such as EC for 30 years, your sale deed, previous deeds ect. then your application will be sent to legal adviser.  only after receipt of legal advise you may be sanctioned home loan. 3. Your father (as donor) and you (as donee) both shall go to registrar office. 


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