How to transfer legal rights to family member
09-Aug-2023 (In Property Law)
I have my 1BHK flat in Pune, For some reason i am shifting from Pune, So I wanted transfer legal rights of flat to my father. But I have home loan for the same flat. Is there any way to transfer the legal rights without getting bank involved and how much would it cost
As per your query, in this case you can get a Power Of Attorney (POA) in your father’s name stating that you have given all the legal rights to the property to your father.
By getting a POA made you will transfer the legal right and authority as an owner to your father but you will be liable to pay the bank EMI and there will be no involvement by the bank for the same.
By getting a POA made you will transfer the legal right and authority as an owner to your father but you will be liable to pay the bank EMI and there will be no involvement by the bank for the same.
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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