transfer of ownership and loan
Desr sir, Me and my brother owns a flat in pune which finances by sbi. loan is also taken jointly.now my brother wants to take new house for him. So I want to remove his name from flat ownership and add my wifes name on the house and replace his name in bank loan also. please advise is it legally possible and of yes how I can do this to transfer of ownership and loan on my wifes name.
I presume that the sale deed has been executed by builder in respect of said flat and before taking any such steps obtain bank written approval before switching of the names, loan can be transferred from your brother to your wife only if bank approves it.
Or else your brother can also execute a gift deed in your wife's favor.
- Disclaimer: The above query and its response is NOT a legal opinion in any way whatsoever as this is based on the information shared by the person posting the query at LawRato.com and has been responded by one of the Documentation Lawyers at LawRato.com to address the specific facts and details. You may post your specific query based on your facts and details to get a response from one of the Lawyers at LawRato.com or book a Detailed Consultation with a Lawyer of your choice to address your query in detail.
Get Started >>
Answers by Our Lawyers
- Procedure, formalities and time required for mutual divorce?
- In relationship with woman for 8 years promised to marry now denying
- Dined staying together after 1 year is this ground for annulment
- How to recover unpaid invoices from previous company
- Clarification on the bank loan taken