Dear Sir/Madam,
I am a general citizen and don't know the technicalities of law. Please advise me in below case:-
Preface: My elder brother (say "Ravi") has a flat in Ghaziabad, U.P. His wife is the co-applicant for the home loan on this flat and so property registered in both my brother and his wife’s name.
Unfortunately, my brother "Ravi" has died in an accident in end of Feb this year. On April 1st Ravi's in-laws family took Ravi's wife along with his two daughters. And now Ravi’s wife got re- married to a new life partner.
Now, the home loan insurance sorted and insurance company transferred the 100% loan amount to Ravi's wife account within same home loan bank.
Catch : My brother Ravi and her wife had a deal in last year Oct 2013 with me to sell the same flat to me. It was in total Rs2150000. I paid the Rs1186000 and it was in the deal the rest of the bank loan i.e. around Rs1000000 should be paid by me. The whole deal is documented in a simple notary bond document duly signed by myself, brother, his wife and two witnesses. There was no any timeline for this. Since, I live out of country so I couldn't come back India to get the property registered in my name but I started paying EMI to bank.
Issue : As stated above bank got the home loan payment and ready to handover the property document to Ravi's wife as she was the co-applicant and 50% registered owner. But, now Ravi's wife is claiming this is her property and she won't give me back as per the deal in Oct 2013.
Question :
1. If my right still exist on this property on the basis of agreement made in Oct 2013?
2. If there is any rights exists for Ravi's/my parents on this property?
Many thanks,
Ash
