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Procedure to remove name of co-owner from hypothetical property
27-Sep-2023 (In Property Law)
we have one property A) in the name of First owner "me" & co-owner "MY Brother" . We had purchased this property on Loan from GIC Housing Finance ltd at Higher rate of interest. because any other bank was refusing to give us loan as we both are in brother-sister relation. Now, As interest rates are really down, we want to transfer this Loan to any other bank. We tried asking to numerous bank but everyone want PROPERTY ON ONE NAME Only instead of Brother or sister. As My brother's salary is very low, We can't take Loan on his income crieteria, Hence we decided to transfer on my one name only. MY Question is - what is the step by step procedure to do this? i understood from one of my friend that, Take stamp paper prepare release deed through advocate & Pay Stamp duty on co-ower's share of property, then registre with sub-registra & after one week take certified copy & submit to bank. BUT I FEARS AS PROPERTY IS Hypotheticated with BANK-HOW BANK ARE NOT INVOLVED HERE??
My Response to your query:
If you want to transfer your Lome from one bank to another bank and the your property is in two name in this situation you can approach to registrar office and make property in one name one of you have to release all rights to other one. All this process you have to done with consent of and after taking bank in confidane that you want to transfer the property in one name and also you want to transfer the line also.. Only in this way you can do..
In above one query you have tow purpose.. You want said property in your name and you also want to transfer lone also..
For More detail you may contact me..
Thank you
Adv Sachin Kuptekar
If you want to transfer your Lome from one bank to another bank and the your property is in two name in this situation you can approach to registrar office and make property in one name one of you have to release all rights to other one. All this process you have to done with consent of and after taking bank in confidane that you want to transfer the property in one name and also you want to transfer the line also.. Only in this way you can do..
In above one query you have tow purpose.. You want said property in your name and you also want to transfer lone also..
For More detail you may contact me..
Thank you
Adv Sachin Kuptekar
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