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nandini iyer   29 March 2021

Property transfer

Hi I want to transfer a property on my name which is currently in my father's and brotjers name. There is a home loan going on the property. I want to transfer the property on my name and the home loan as well. I am ready to clear all the liabilities against the property but I want ownership as well. Please advise if I do so?


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 7 Replies

Dr J C Vashista (Advocate)     29 March 2021

When you are willing to take on liability / encumbrance on the subject property, its title (Ownership) is marketable and vendors (seller/ transferrers) are ready there is no problem in getting it transferred in your name.

G.L.N. Prasad (Retired employee.)     29 March 2021

There is a possibility of such transfer provided you acquire a legally valid title through settlement deed.   Contact a local advocate and get the draft for settlement deed that should state that taking of entire liability, getting title through partition.  If they relinquish, this deed requires registration also.

Hemant Agarwal (ha21@rediffmail.com Mumbai : 9820174108)     29 March 2021

1. Father & Brother can execute a Registered Gift Deed in your favor.  For this you will require proper NOC from Financing Bank.

Keep Smiling .... Hemant Agarwal 
VISIT:  www.chshelpforum.com

nandini iyer   29 March 2021

How much expenditure it will cost!

Hemant Agarwal (ha21@rediffmail.com Mumbai : 9820174108)     29 March 2021

Originally posted by : nandini iyer
How much expenditure it will cost!

 

IT may cost you anything starting from 100/- upwards, depending on various parameters.  Coordinate with a local Property Lawyer, with all available documents, for proper guidance.

Keep Smiling .... Hemant Agarwal 
VISIT:  www.chshelpforum.com
 

Sankaranarayanan (Advocate)     29 March 2021

yes it can be possible .. where are you from? Are you in Tamilnadu?

P. Venu (Advocate)     29 March 2021

The donors willing, gift deeds could be executed. Stamp duty varies from State to State. Many States levy only nominal stamp duty for gift, settlement, partition etc. in specified cases.


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