LawRato

Loan agreement based on balance amount for property sale to brother


31-Jan-2025 (In Property Law)
Myself and my mother, my 2 younger brothers are co-owners of a property (house) in chennai. I want to sell my share of the property to one of my brother. My brother can pay 50% of the money now and can pay balance 50% only after 3 years and he would need to register my share now itself. Can I create a separate loan agreement for the balance amount mentioning the liability of the balance amount for property registration. Also, can I mention about the loan agreement in the registration document.
Answers (1)

Answer #1
632 votes
hi Felix here I can well understand your concern from the query raised, yes you can create both a seperate loan agreement and include the clause in the sale deed elaborating the same, thank you, you can contact me for further clarifications
Helpful? LawRato LawRato

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.

Report abuse?

Comments by Users

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."