• Transfer of ownership of mortgage flat

Desr sir,
Me and my brother owns a flat in pune which finances by sbi. loan is also taken jointly.now my brother wants to take new house for him. So I want to remove his name from flat ownership and add my wifes name on the house and replace his name in bank loan also.

please advise is it legally possible and of yes how I can do this to transfer of ownership and loan on my wifes name.
Asked 2 years ago in Civil Law from Pune, Maharashtra
1. Has the sale deed of the flat has been registered in the name of you and your brother?

2. If yes, then your brother can execute and register a Gift Deed in favour of your wife on being releived of his repayment responsibility of the loan he has taken alongwith you and also being paid the amount he has paid on this account, if any,

3. Talk to the Bank for shifting the loan liability from your brother to your wife.
Krishna Kishore Ganguly
Advocate, Kolkata
12104 Answers
229 Consultations
5.0 on 5.0
1) i presume sale deed has been executed by builder in respect of said flat .

2) before taking any such steps  obtain bank written approval . 

3) loan can be transferred from your brother to your wife only if bank approves . 

4) your brother can execute gift deed in your   wife favour . have it duly stamped and regd .
Ajay Sethi
Advocate, Mumbai
23192 Answers
1218 Consultations
5.0 on 5.0

Ask a Lawyer

Get legal answers from top-rated lawyers in 1 hour. It's quick, easy, and anonymous!
Ask a Lawyer

Civil Lawyers

T Kalaiselvan
Advocate, Vellore
13979 Answers
127 Consultations
5.0 on 5.0
Ajay Sethi
Advocate, Mumbai
23192 Answers
1218 Consultations
5.0 on 5.0
Ashish Davessar
Advocate, Jaipur
18088 Answers
447 Consultations
5.0 on 5.0
Krishna Kishore Ganguly
Advocate, Kolkata
12104 Answers
229 Consultations
5.0 on 5.0
Nadeem Qureshi
Advocate, New Delhi
3523 Answers
130 Consultations
4.9 on 5.0
Rajgopalan Sripathi
Advocate, Hyderabad
868 Answers
43 Consultations
5.0 on 5.0
Atulay Nehra
Advocate, Noida
434 Answers
15 Consultations
4.7 on 5.0
Shivendra Pratap Singh
Advocate, Lucknow
2736 Answers
41 Consultations
4.9 on 5.0
Ajay N S
Advocate, Ernakulam
1911 Answers
19 Consultations
5.0 on 5.0
S J Mathew
Advocate, Mumbai
1950 Answers
65 Consultations
5.0 on 5.0