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Conversion of Joint account into a single account
31-May-2023 (In Divorce Law)
My son has purchased a Flat in joint names along with his wife. We had taken a loan from bank to buy the property. The loan account is also joint. His wife is a house wife with no income. He is paying 100% of the EMI. Now they are heading for a divorce and she has agreed to register a deed for relinquishing her rights in the property, making him a single owner.
please advise as to how to convert the joint loan account into a single loan account by removing her name from the bank account.
Soon after getting Relinquishment deed get katha charged in the name of your son. If necessary also NOC from her to make single Borrower from joint loan account. She will happily agree for it. Before divorce case is over make sure everything is happened
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Adv. Kishan Dutt Kalaskar
Bangalore | 500+ Answers
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Firstly you have to get the Registered relinquishment deed by the wife to husband and then you have to approach the bank. with all documents of Divroce decree and Relinquishment deed to change the holding of property.
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Adv. Sharada H V
Bangalore | 100+ Answers
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