Hello,

A family partition can be made and registered if the other brothers are agreeing to your plan. 

Get in touch with a local lawyer who may do the needful for you. 

Regards 

1) unless bank loan is repaid bank would not agree for creation of third party rights on property

2) on repayment of bank loan you  can sell the property and divide sale proceeds as per your agreement 

3) in alternative execute deed of family settlement for division of property by metes and bounds 

1) Get the valuation of property ask from them to pay the amount which you have paid from brothers.

2) And later on divided property in to equal sharing ratio as per Indian Succession Act.

3) If brothers are not ready to pay your loan amount which you have paid it and which remaining amount of loan need to pay bank for closing account. Than you can sell one part of the house and recover your and banks amount from it and divided property equally.

Sir one option is if your brothers are agreeing a partition and family settlement deed can be made and the same can be registered.

Otherwise you need to ask loan amount from your brothers and file for partition in court.

Dear Client,

Originals documents not required. Release deed will execute in your favor by brothers to transfer their share in your name.

Try to settle dispute amicably through an mediator. 

On demise of parents the property will devolve amongst all legal heir. 

1.  Execute a "Family Settlement Deed", with mutual & consenting signatures of all related persons, strategically mentioning the division ratio of the properties, the funds invested, any other liabilities and assets.

2.  The above will serve for income tax purposes and will safeguard property title for future sale /transfers /gift /mortgage /whatever.

after demise of your parents, the property has devolved on children i.e. you and your 2 brothers

each one of you have 1/3rd undivided share in the land

if your brothers are asking for share in the property, then it has to be sold and the sale proceeds have to be distributed between the 3 brothers

now suppose the property is sold for say 30 lacs

each brother is entitled to 10 lacs 

since you bore the home loan for 5 years, that amount needs to be deducted equally from the share of the 3 brothers

say the amount spent by you was 3 lacs

so 1 lac will be deducted each from the shares of the 3 brothers

excess paid by you via the home loan would be 2 lacs 

so out of sale proceeds, your share will be 12 lacs, and two brothers each will take 9 lacs

1 brother x 12 lacs = 12 lacs

2 brothers x 9 lacs = 18 lacs

TOTAL               = 30 Lacs  

Let them execute a relinquish

Let them execute a relinquishing deed. Thereafter you are free to sell the property. 

You need to execute the Registered relinquishment or gift deed for the same. In that you can transfer the share once done you can inform the bank 

you can enter into agreement with your siblings that you have additional share in property equal to loan amount paid by you 

thanks for your appreciation 

Prove that father paid only 5 lacs and rest 15 paid/paying by you, than they can claim share in 1/4th share only.

I.e. 1/4th share of 1/4th.

its advisable to take registered release deeds from your brothers

Great. Thanks 

Yes it will be on stamp paper and with registration

A registered family settlement and partition deed of same.shluld be made as.per your settlement and understanding .

The property cannot be partitioned during the period it is under mortgage loan with a bank.

In fact the lgal heirs do not have any rights in the property till the entire loan amount is fully discharged.

Therefore you may have to first clear the loan amount and then go for partition accordingly

Any action as proposed by you are not enforceable in law. 

The agreement entered in this regard in an unregistered stamp paper is not valid and cannot be enforced through a court of law, hence you may have to better close the loan and arrive at an amicable solution with your siblings.