Hello sir, my mother is owner of our house and she lease out the house for 30 years from 2001 to me and my brother as ground floor and first floor. we are having a home loan on our house that is joint account in which me, my brother and my mother are there. now my mother wants to registered the full house to me only without noticing my brother. so now in this situation what we can do for new registry and what will be the bank point of view on this as i m ready to pay off the full loan amount...???
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Hello,
Since the same has been leased to your brother also, therefore without giving a notice to him registry can not be done in your favor.
If however the same is done, your brother can easily challenge the same and get the right to residence.
You mother can send him a notice for termination of the lease.
If the entire loan is paid by you and NOC is obtained by you then the bank will have no objection.
Contact a local lawyer.
Regards
1)bank will refuse to permit execution of sale /gift deed in your name unless loan is repaid
2)once loan is repaid mother can terminate lease in your brother favour . execute gift deed in your favour
3) have it duly stamped and registered
If this property is currently secured with the Bank against the home loan which 3 of you have taken, at present your mother cannot transfer/register this property in your name.
Once the loan is cleared, by way of a gift deed, your mother can register the entire property in your name.
1. If your mother is the sole owner of the house then she can gift this to anyone she chooses including you.
2. So there is no requirement to give any notice to your brother nor his consent is required.
3.Howeevr since he is a lessee in respect of the house for another 14 years left you can not evict him from the house beofre the expiry of the lease of 30 years.
3. In the year 2031 only you can file suit for eviction if you wish to get vacant possession of the area he is occupying.
1. Your brother's consent is required, and he may relinquish his share in your favor.
2. Your mother may also relinquish her share in your favor, they you get a right to get the property in your exclusive name.
3. Pay off the amount due to bank and ask your brother to execute a release deed in your favor.
Transfer of property ownership includes all the rights and liabilities with the property.
If the property is registered in your name from your mother the loan liability also shifts on you and you are bound to repay the loan to the Bank.
Dear Client,
Ur mother can execute a gift deed in ur favor or a WILL ( effective after her death ) but abiding lease deed, ur brother will not effect until he defaults in lease payment or expiry of 30 lease period.
AND if there`s no payment of rent, than he is licensee and can be evicted by order of court if he resist to leave.
The loan in the bank is to be discharged in full and get the property documents released along with no due certificate and loan discharge certificate.
Once the title documents of the property is retrieved after discharging the loan, your mother will become the absolute owner of the property, however keeping the loan repayment in view, she can execute a registered settlement deed in return of the consideration received or execute a registered sale deed in your favor.
Your brother cannot object to this transaction since your mother is the absolute owner of the property and she has full rights to dispose the property in the manner and in favor of anyone of her choice.
With your brothers consent you may go for it
1. Unless the entire loan is repaid the bank will disallow the transfer of title.
2. Once the loan is repaid your mother will be at liberty to execute a gift deed which should be stamped and registered.
