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Change of 1st owner name of a registered property what procedure
23-Dec-2023 (In Property Law)
Hi, Myself & my mother took a property 3 years back. She is the 1st owner & 1st applicant for home loan. But she is not working & I am paying the home loan EMI from my salary & also had paid the down payment (15%) from my savings account. The property is already registered in our name (mother is 1st owner & I am 2nd owner) and the sale deed is mortgaged. Now our relation had gone worse & I want to remove her name from the property paper. Is it possible & If so, what should I do now. I am thinking to transfer my home loan also. Your advise will be very much appreciated. Best regards.
Sir
So far the deed is concern you two (mother &son) are the purchaser of the property equally. You both are undivided equal shareholder of the property, as per the deed . In the loan documents i hope you had declared that your mother have no income and the financial company had issue loan on your income alone.
If you want your mother's share to be zero, then--
1. You clear the loan
2. Ask your mother to make a gift deed in your favour of her undivided 50% share to you..
Then only you can become the 100% owner of the property.
Thanks
So far the deed is concern you two (mother &son) are the purchaser of the property equally. You both are undivided equal shareholder of the property, as per the deed . In the loan documents i hope you had declared that your mother have no income and the financial company had issue loan on your income alone.
If you want your mother's share to be zero, then--
1. You clear the loan
2. Ask your mother to make a gift deed in your favour of her undivided 50% share to you..
Then only you can become the 100% owner of the property.
Thanks
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Adv. Shiddhartha Banerjee
Kolkata | 200+ Answers
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Hi
In this regard we have to check all your property papers.Generally if the sale deed is in the name of you and your mother without transferring her share it is not possible to remove your mother's name
In this regard we have to check all your property papers.Generally if the sale deed is in the name of you and your mother without transferring her share it is not possible to remove your mother's name
Helpful?
Adv. Payel Adhikary
Kolkata | 25+ Answers
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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.
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