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.
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