Can i gift my mortgaged property to wife after Divorce?

In Divorce Law

Can i gift my Mortgage property to wife. we are getting Divorced by mutual consent. can i gift her the property. do i have to furnish bank any documents

Answers (3)

180 votes

If you have mortgaged your property, you cannot transfer any interest in the property without the express authorization of the bank with whom you have mortgaged your property. Even a gift is a transfer of interest, and this simply cannot be done. Such transfer would be bad in law.

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133 votes

During the life time husband wife has no property right. The mortgage property can not gift without consent of the bank. After getting permission or full repayment of debts you can gift to your wife before or after divorce.

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75 votes

yes. if the property is mortgage before the bank and loan amount does not repaid then bank can acquired the property.

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