Sachin Raut 21 January 2018

Transfer of property to my wife.

Hi, Both, my wife and myself are the owners of a flat in Mumbai. However, the home loan EMI is paid only by me. We both are working and are quite stable with a salary above 70k pm. How can I transfer the flat completely on her name and also, how can I transfer the home loan on her name at the same time as I do not want to pay the EMI and want to be clear of debts. Please suggest a way out as I would like to shift permanently away from her and buy a house of my own later. Also let know the costs involved. Regards.

Reply Follow

3 Replies

Krishna 21 January 2018

You can transfer your share of flat by paying stamp duty by selling to her or by gift deed. But before doing this you need to take permission from the bank and your wife should be eligible to pay for Emi. Otherwise bank will refuse to give loan and your name should be deleted and fresh loan agreement with your wife should be signed.