458+ Lawyers are online 
Took joint loan but one brother wants his settlement amount
19-Feb-2023 (In Recovery Law)
Transfer of sale deed in bank: My husband and his brother are twins. So they have purchased a self-occupying property as a joint-loan before their marriage. But now, his brother & his wife wants to leave that house and needs their settlement. It just 6 years old house. Both have shared loan on this property. Now, how can we settle their ownership by transfer of amount?
The brothers will first of all go to the bank and speak to the bank regarding the transfer. The loan paper has to be changed wherein the person who wants to buy the property will have get name changed in loan paper and inform the bank that he intends to buy the brother share. If the bank agrees then brother can execute the release deed. But we presume the bank may not agree . So the other option is that you can sell the property , after the sale proceed you pay the remaining loan to bank and then divide amongst each other
67+
Adv. Siddhant Sharma
Delhi | 200+ Answers
Chat
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 Divorce Lawyers at lawrato.com to address the specific facts and details.
No Comments! Be the first one to comment.
"lawrato.com has handpicked some of the best Legal Experts in the country to help you get practical Legal Advice & help."
