FightForCause (Businessman) 27 January 2015
Hi Experts.
I need to transfer my share in Joint property to my wife.
The property is in joint name with my wife and we have a joint home loan.
Can i simply make a gift deed in name of my wife and on that basis will bank make whole loan in her name or there is different process.
Kindly explain me the whole process, this house transfer is part of compromise in divorce proceedings.
adv.raghavan (Advocate,9444674980) 28 January 2015
When you do not have the originals with you and still under mortgage, there is no use in doing so and it is not valid also. If any thing of this kind has to be done take bank in confidence. If her salary structure is such that, she can carry on with the EMIs regularly, bank will not hesitate to accept your proposal, if it is on the other way, they may not.
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