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Purchasing part property from my uncle
24-Oct-2023 (In Property Law)
My dad & my uncle own a flat. I would like to purchase my uncle's part and become the co-owner with my dad. How do I go about this?
Please note that I want to take a housing loan to purchase this property so gift deed is not an option.
How do I go about doing this?
What kind of an agreement needs to be drafted for this?
Dear Sir /Madam,
A release deed will have to be entered into wherein your uncle would release his share, right title and interest in the said flat in your favour. Accordingly on release deed being executed you and your father will hold the property jointly. You can avail a bank loan for making payments thereof for the said flat.
A release deed will have to be entered into wherein your uncle would release his share, right title and interest in the said flat in your favour. Accordingly on release deed being executed you and your father will hold the property jointly. You can avail a bank loan for making payments thereof for the said flat.
Helpful?
35+
35+
Adv. Mohammed Zain Khan
Mumbai | 100+ Answers
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Dear Sir,
In your case if your father & uncle co-owners in the original sale-deed of property then following remedy you need to follow.
1) For purchasing uncle's part you need to make "Relinquishment Deed" between you & uncle.
for details Contact me.
Thank you,
In your case if your father & uncle co-owners in the original sale-deed of property then following remedy you need to follow.
1) For purchasing uncle's part you need to make "Relinquishment Deed" between you & uncle.
for details Contact me.
Thank you,
Helpful?
39+
39+
Adv. Mayur Sarode
Nashik | 100+ Answers
CONTACT NOW
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