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Property Ownership - Home Loan service provider change


28-Nov-2023 (In Property Law)
A & B (Couple) bought a joint property (house) in 2005 (stake of 50% each). Housing society allocated 5 shares to each of them and both the names were added in the share certificate. Upon A's death in 2009, B filed an application to the hsg. society informing that the house needs to be fully transferred to her name. She also provided a notarized consent affidavit duly signed by C & D (children of A & B) informing that they have no objection for this. Based on this consent affidavit and application, society transferred all the 10 shares to B's name.Please note that registration of the house remained in joint name. In 2015, house was sold to P (me). Since the house was registered in joint name of A & B, the sale agreement stated that A is deceased and B is selling the house to P and C & D have no objection to this. P is now facing issues for home loan transfer, as home loan legal team says that transfer from joint ownership of A & B to sole ownership of B is not clear. Please advise
Answers (1)

Answer #1
813 votes
This is my response to you:
1. Yes the NOC would not suffice because a registered Release Deed should have been made between B, C and D;
2. C & D still continue to hold legal claim on the flat;
3. You will need to obtain the same;
4. Also B, C and D should have obtained letters of administration from the court;
5. Consult a local lawyer and take steps.
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