For your first question yes you can still sell the flats independently the loan amount can be covered with the consideration amount received for.flat and same can be.mentioned in the sell deed.

No not necessary that you invest 50:50 for equal partnership you can mention investment amount in partnership deed and still have equal share.

You would need bank consent to sell the independent floors

2) bank would grant consent provided sale proceeds are used in repayment of loan

It is not necessary that investments should be 50 per cent of both parties to have ownership of 50 per cent

Yes, you will be able to sell the independent floors to individual buyers after the Bank gives it's consent to do so, and gives you a NOC to that affect.

Also, the sale proceeds will have to be used by you towards repayment of loan to the Bank.

It is not necessary that to be a joint owner, i.e, to own 50% of the property, one needs to contribute 50% towards the cost of the plot. This is an internal arrangement in between you and you brother.

To avoid any dispute in future, invest 50% each and purchase the plot in joint name. Since you are taking loan against mortgage of the plot u can't sell the floors without the consent of the bank. The bank may give the permission provided the sale proceed is deposited in the bank. In that case your loan burden will come down and you will not be playing any fraud with the bank.

-- Of course , you can sell the independent floors of your property after taking the loan from the bank for the construction etc purposes.

- Further , if the buyer also needs a housing loan from bank to buy the independent floors from you. It is possible as well and this process is called SELLER BT.

- If the buyer apply for the loan with the bank or even the same bank , then also there will be no problem to get the loan for them and further the bank will transfer the amount to you .

- Further if the buyer has sufficient amount to buy the independent floors then you will get this loan amount directly and in this way you will have option to clear the dues of the your loan .

- It is not necessary that to be a joint owner, i.e, to own 50% of the property, one needs to contribute 50% towards the cost of the plot.

Hi, legally you can sell the Floors while the property is under loan , but it should be mentioned in the sale deed and the initial agreement with the buyer ..The perspective of loan should be known to the buyer while executing any legal document ..for further legal assistance you can meet me at my office in Gurgaon .. Thank you

Yes, the same can be done but it is suggested to return the loan regularly and do mention that while selling the properties/flats/floors.

1. For buying the plot jointly by you and you partner, you plan to take loan from the Bank for which you shall have to keep the said plot mortgaged to create security interest on the said loan.

2. Any building constructed on the mortgaged plot also will be considered as mortgaged with the lending Bank for which you shall not be able to sell any part of the said construction with out the written consent of the mortgagee bank.

3. As per law, mortgaged property can not be dealt with without the written consent of the mortgagee.

4. So, you will not be able to sell the independent floors before creating the loan outstanding lying in yoiur loan account for which the plot has been mortgaged with the lending bank.

1. In a sale contract, consideration is exchanged between the buyer and seller.

2. In the instant case unequal consideration is received by the seller from the buyers for selling land in the same proportion which is required to be explained.

3. the sale deed shall have to clearly recite the unequal amount paid by each of them for acquiring equal share of the plot and in that case the excess amount paid by one party shall have to be considered as gift to the other party.

4. However, after proper reciting the matter in details, such sale deed will be considered as valid and future complication can be avoided.

When the plot is under loan you cannot sell the plots, however you can sell the flats built on the plots to repay the loan, the bank will give you NOC.

Also, in joint ownership if we are planning to have 50% ownership each in the property then do we need to invest also in 50% ratio in white or one person can invest more and one less but still have final ownership as 50:50?

The ownership and share if not agreed and recited in the registered deed, shall be considered to be 50% each .

Now, question is can we sell the independent floors post 2 years though the plot is still under loan.

yes you can sell the same, after informing the purchasers about the said loan.

Regards