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How can I get opinion of Lawyer panneled with SBI bank on gifting sub-leased property
I have a flat in Noida which was initially owned by Me and My Wife. This flat is also having a home loan with SBI Bank. My wife gifted her share to me through Gift Deed which is also got executed or resgistered in Noida Authority too. Now we want my wife name to get removed from home loan. But SBI bank Lawyer raised below query to get opinion of another lawyer. Below is the communication I got: We requested to take the opinion of the panel adocate on lease hold rights. The NOIDA had given lease to Company and Company has given further sub-lease to the our customer. Now one of the sub-leases wishes to gift her share/property. Advocate should examine the entire history of Lease from NOIDA to Company to Sub-lease as to wether sub lease can gift her sub-lease hold rights and permission in this regard is required from the company i.e. main Lessee of the Noida. Now my query how and from where I can get this opinion or if some in the group can guide me.
Asked 3 years ago in Property Law
Religion: Hindu
15 Answers
Copy which you are asking for is the gift deed through which my wife forwarded her share to me ?
Asked 3 years ago
From where this useless objection raised by their advocate.
This is just a simple case of transfer of co owner share to another share. On the basis of gift deed, you have become sole owner.
NOIDA had given lease to Company and Company has given further sub-lease to the our customer. -- What is this ?
This flat must be purchased by you ? than where the issue lease has come. Maximum land in India is lease hold.
Any advocate can provide due opinion on the above.
Lease deed
2) sub lease deed
3) gift deed
4) correspondence exchanged with bank
- As per Section 128 of the Transfer of Property Act, a donor can gift a mortgaged property, and receiver of the gift is personally liable for all the debts and liabilities that are associated with that property.
- When the Gift deed is already registered with the permission of the Noida Authority , then there is only matter left with the bank to transfer the entire loan amount into single owner of the flat .
- However , before execution of the Gift deed , the NOC of SBI was mandatory .
- Without perused the lease deed clauses , cannot give proper opinion .
You should have transferred property rights through quit claim deed and provided papers to bank.
No worries.
Let the name of your wife be in the loan agreement. It will not be a problem for her until you default or in case loan is transferred to another person who undertakes to own it doesn't commit default till then NO PROBLEMS.
You have mentioned that this query has been raised by the panel advocate to another lawyer.
What is the opinion of the other lawyer to whom this matter was referred/
Actually this is a leasehold property and you and your wife are sub-lessees and not even lessees.
For transferring her rights in the property by a registered gift deed, your wife who is one of the sub-lessees should not only obtain NOC from bank since there is a home loan subsisting on the property but also from the company i.e., the lessee and in turn from the lessor i.e., the NOIDA authority.
If the authority has approved the leasehold purchase to you and your wife, then their NOC becomes pertinent for transfer of the rights of the lessee.
You may await the opinion from the advocate to whom this was referred.
Since your wife is one of the purchasers/sub lessees of the leasehold property it becomes pertinent to obtain NOC from the concerned authority for her to transfer her rights in her share of property.
They are preparing search report and pannel lawyer can only do that.
You can seek phone consultation from any lawyer on this website .
What exactly you need in the above case if you require only opinion you can seek the same from any competent lawyer for the same
Kindly explain the gift deed. As long as a loan is there on the property it cannot b3 transferred. Although the gift deed can be deposited with the bank so that it may proceed.
You need to take possession of the property. That would complete the deed.
Dear Sir/Madam,
You are suggested the bank has its own panel lawyers and you are required to contact the bank branch for the same. The concerned branch will sent its query to its panel lawyer and you are not required to do much in this regard.
You should visit your local court and contact the advocate empanelled with SBI or any other bank to get second opinion on issue raised by advocate of SBI.
