Hi All,
1. Almost five years back I purchased some land and the same is registered on my mother and fathers name.
2. My father passed away two years back.
3. Now I am planning to build small shopping complex in that land. And for that I need to take loan from the bank.
4. But before taking the loan, I want to transfer the property into my name.
5. From some of my friends I heard that it is better to transfer the property in the form of GIFT DEED.
6. If my mother wants to transfer the property on my name in the form of GIFT DEED, is it mandatory that my others brothers needs to sign on the same? (we belongs to ISLAMIC community)
7. If the property transfered to my name in the form GIFT DEED, will I get all the rights on that property ?
8. If the property transferred to my name in the form of GIFT DEED, then will it create any issues in getting bank loans?
Thanks,
Masthan
