Prashant (S.E.) 10 September 2012

Importnace of second applicant in agreement of a flat.

Hi,

Can i know the importance of second name in agreement of flat?
i have purchase a flat and the flat is in my name as Main applicant and my father as a second applicant.
I have taken a homeloan and entire EMI including registration charges has been borne by myself.
But my father has contributed some cash amount around 15 % in purchase of this flat.

I want know can my sister claim her share in this flat?
Also what is the procedure if i want to change the second applicant name in the agreement.
What documents do i need to submit in society for change of name?

Regards,

Prashant

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2 Replies

ABHIJEET PARIKH (Bcom LLB MBA) 10 September 2012

whether ur father income papers were given to bank to get more loan sanctioned

whether ur father is also second member or associate member in society

IF ur father has contributed or ur father income statement was used to get loan sanctioned then such name withdrawal depends on policy of banks from were u took loan

ur sister has nothing to do with ur flat

regards

abhijeet

Prashant (S.E.) 10 September 2012

Hi Abhijeet,

Thanks for your quick response.

No documents related to my father income were given to bank as he is a retired person. It was my documents were given to bank for loan sanction. Yes My father is a co-applicant for bank loan. But his contribution to monthly EMI is Zero.

Also he is a second member in Agreement of flat.

If i need to change his name or remove second member from agreement do i need to again go for stamp and registration procedure. Also do i need to pay transfer fee to society to change his name.

Please advice.

Regards,

Prashant