Hello,

Ask your brother to execute a relinquishment deed. Always keep the bank informed. 

Hope this helps.

Regards

1) loan has been granted based on your combined incomes 

2) you need bank consent to remove your brother name as co applicant from home loan 

3) loan agreement would mention names of applicants 

4) if sale agreement mentions name  of both parties both would be co owners 

5) is it registered sale agreement kindly clarify 

6) brother can execute gift deed for his share in flat but bank consent would be necessary as flat is mortgaged to bank 

1. Check the registered sale deed and find out whether your real brother's name,  apart from your name, has appeared in the sale deed as Purchasers. If the answer is yes, In that case, your brother is a co-owner.  Alternatively,  in the registered sale deed, only your name has appeared as Purchaser,  then it can be presumed that your brother is a co-applicant.

2.  Under the given circumstances,  let your brother execute a registered Release/Relinquishment Deed for the flat in your favour.

3.  You can remove your brother's name first from the home loan. 

Only the terms of agreement can disclose whether is a party coapplicant or coborrower 

1. A proper scrutiny of the copy of the registered sale deed as well as the loan agreement would reveal the details and his status in the property.

2. Your brother has to execute a registered gift deed or sale deed in your favour in respect of his share in the property which will remove his name from the jointly owned property.

3. The Bank will not accept your request to remove your brother's name from the mortgage loan until the entire loan amount is repaid or if you replace anyone worth of your brother's capacity to replace him.

- For knowing the names , you should check the sale deed of the property 

- Further , if you don't have any copy of that agreement/deed then take a certified copy from the said bank or the offence of the Registrar. 

- If there is joint ownership in the deed , then your brother should registered a gift deed in your favor for making you single owner of the property. 

file an application before the bank authority/ loan authority and get the loan application form along with all the documents. if in those documents, your brother is co-applicant, and you are not willing to continue with your brother as co-applicant then request them for the same and also file a consent letter from your brother to the loan authority.

execute an agreement with your brother (as the name of your brother is also mentioned in the agreement to sale,) related to the transferring his share to you as you are paying all the consideration amount in the form of EMI.

The first step is to ascertain whether your brother is merely a co-applicant/co-borrower in the home loan or whether he is also a co-owner of the flat. These are two entirely different things. You should obtain and examine the registered Sale Deed/Conveyance Deed, Builder-Buyer Agreement, Allotment Letter, and Home Loan documents. If your brother’s name appears only in the loan documents and not in the title documents, then he is merely a co-borrower and has no ownership rights in the property. However, if his name appears in the Sale Deed, Conveyance Deed, or Builder-Buyer Agreement as a purchaser/co-allottee, then he is a co-owner irrespective of who paid the EMIs.

If your brother is only a co-borrower, the process is comparatively simple. You will have to approach the lending bank and request substitution/removal of the co-borrower. The bank will assess your individual repayment capacity and, if satisfied, may permit the loan to continue solely in your name. In such a case, no property transfer deed is required because your brother never held ownership rights.

However, if your brother is a co-owner in the property documents, his ownership interest cannot be removed merely because you paid the entire EMI. Since your brother is willing to cooperate, the most suitable document would generally be a registered Release Deed (Relinquishment Deed) or, in some cases, a Gift Deed whereby he transfers his share in the property to you. The choice between a Release Deed and a Gift Deed may depend upon the applicable stamp duty laws in your State and the exact nature of ownership. Between real brothers, a Release Deed is often the preferred route where both parties acknowledge that the property is being retained by one co-owner.

As regards the sequence of events, if the property is mortgaged to the bank, it is generally advisable to first obtain the bank’s consent or no-objection because the property is under charge in favour of the lender. Many banks insist that the ownership transfer and loan restructuring be processed simultaneously or with their prior approval. Therefore, you should first discuss the matter with the bank, obtain their requirements, and thereafter execute the appropriate transfer deed. Once the deed is registered and the bank’s formalities are completed, the records can be updated accordingly.

Accordingly, before deciding which deed is required, obtain a copy of the registered Sale Deed and verify whether your brother is recorded as a purchaser/co-owner or merely as a co-applicant in the loan. That document will conclusively determine the correct legal course.

Dear Client, To determine whether your brother is a co- applicant or a Co-owner you must examine two different documents. Firstly, a loan agreement with your bank that will clarify if he is a Co- applicant meaning if he is jointly responsible with you for paying the debt and with this you have to analyse the sale deed or the sale agreement that is the primary document that will determine his ownership. If his name is listed as the purchaser in the sale deed he is legally a Co- owner regardless of who paid the EMI’s, you can verify this by checking the property Registered Sale Deed or obtaining a copy of the Record of Rights (ROR) from the local sub registrar office.

Then to remove your brother’s name from the ownership most viable legal instrument is a release deed. Since your brother is willing to corporate he can execute this deed in your favour effectively by transferring his share of the property rights to you, this document must be drafted by a legal professional.

 Chronologically you must first remove him from your home loan because the bank holds a mortgage over the property then they will not permit you to change the ownership structure without their explicit consent. Then you should approach your lender and explain that you wish to remove your brother as a Co borrower. The bank will likely revaluate your individual income and credit worthiness to ensure that you can service the loan alone. Once the bank issues a (NOC) No Objection Certificate and updates the loan records to reflect only your name, you can then proceed to the sub registrar’s office to execute and register the release deed to finalize the ownership transfer in favour of yourself. I hope this answer helps, if you have any further query kindly do not hesitate to contact us. Thankyou

Dear Client, first, check the registered Sale Deed and the home loan documents. If your brother's name is in the Sale Deed as a purchaser, he is generally a co-owner. If his name is only in the loan documents, he is generally only a co-borrower.

If he is a co-owner and is willing to give up his share, this is commonly done through a registered Release (Relinquishment) Deed. If he is also a co-borrower, you will generally need the bank's approval to remove him from the home loan.

The first step is to obtain and review the Sale Deed and loan documents to confirm whether your brother is a co-owner, a co-borrower, or both.

Thank you.