Regarding addition of brother' name in the flat agreement

Is possible only with a grant deed. A grant deed is more commonly used when assigning part new ownership to someone. 

Thank you sir for the answer,

The original agreement papers are with the bank due to home loan. Is it still possible to do this grant deed?

Thanks,

Sangram

In case of a mortgaged property, you need to ask bank to permit you to transfer certain share of your property in favour of your brother by executing a Gift Deed. For Gift Deed, you need NOC from your bank and society in which your flat is located to execute and register Gift Deed before Thane Sub-Registrar Office. The Bank might take in to account your outstanding loan amount and period of repayment. 

1. "IF"  the original Agreement is mortgaged to the Bank, you can do the following:
a)  Take NOC from Bank for Gifting 1/3rd Property to your Brother
b)  Brother should give undertaking to Bank, agreeing to be liable for the ongoing Loan
c)  Execute Register Gift Deed with Brother and with Mother as "confirming party" in the Gift Deed & annexing Bank NOC.
d)  Deposit original Gift Deed with Bank
e)  Submit Certified Copy of Gift Deed to Society, to add Brother as "joint member".

Keep Smiling .... Hemant Agarwal
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