Friends.....(1) I have a falt in Chennai which is self acquired before my marriage and for this I have taken loans from Brother and Bank. Now the situation is such that the EMI is too big to handle and I wanted to transfer the property to my brother in lieu of the loans and settle the outstanding with the bank. Can this transaction be executed through a Settlement Deed. The sales deed / gift deed is attracting stmap duty which is so high in Chennai and the alone works out to close to 10 lacs.
(2) If i do a settlement deed, can my wife dispute this at a later stage, in case of divorce etc.,
Can you please advice what is the best way to handle this.
