Ownership on property purchase and coapplicant are two different things. All the above matter is subjected to mutually understanding and relation of coowners.

If your mother agreed to transfer his share of ownership to u both u have some options left with urselves:

Either u can make the gift deed whih you have to get properly registered through registrar with the nominal value aprox 20000 rs.

You can also execute release deed,sale deed, transfer deed in the name of beneficiaries from ur mother side.

It is not necessary that she has to remove from coapplicant from the loan.

I will suggest you to go for transfer application as it will consume less time and money.

1) mother can execute gift deed in your favour

2) in Maharashtra it attracts Rs 200 stamp duty as mother has executed gift deed in name of her son

3) registration charges would be around Rs 30,000

4) since your mother is co applicant of housing loan bank consent is necessary to remove your mother name as co owner of flat

5) your mother name would have to be removed even as co applicant of loan as she has no rights on the flat

1. Since her name is in sale agreement only and the transfer is not completed as sale deed is not executed there is no need to made a separate gift deed or release deed.

2. When the sale deed would be executed keep only you and your wife as buyer while your mother will remain as Confirming Party releasing her interest in the property.

3.In this way you will save lakhs of Rupees in stamo duty.

4. Removing her name from co-applicant from Bank records would be done once sale deed is made.

Hi

Transfer is possible with the NOC of bank.if the loan can be in your and wife names.

The transfer deed can be through relinquish ment or gift deed.However gift deed is the best option

Now in Maharashtra the gift deed from parents to children càn be without any stamp duty.so it is the cheapest option.

The transfer can be done before the possession.or any time

If the sale deed has not been executed then your mother can execute a GPA in favour of the builder to authorize him to execute the sale deed in your and your wife's favour, whereas if the sale deed has been executed then a gift deed is required to be executed.

The GPA will have to be stamped and registered in accordance with the Stamp Duty Act prevailing in the state.

1, 2 & 3. You have just executed and registered a sale agreement wherein your mother is also the co-owner of the flat which you want to alter and remove her name. Your mother does not yet own her share of the property since it has not yet been purchased by you all for which the question of executing and registering a gift deed in your favour doe not arise at all,

4. Let your mother give a letter to the builder withdrawing her name as the co-applicant and in most of the cases the builder agrees for removal of such names. If the builder insists you can execute and register another agreement wherein your mother will withdraw as a co-applicant rectifying the earlier agreement,

5. You should remove her as the co-applicant from the bank loan for which all of you shall have to issue a letter requesting the Bank to remove her name as co-applicant for the house building loan to avoid any future problem which may arise in connection with the title of the said flat.

At sale agreement stage there can be no gift or settlement deed.

First thing you need to do is contact the builder. All the builders will have different procedures.

Next Best thing to do is get a NOC from co-applicant on registered stamp paper with clear points. Get it drafted from good lawyer.

Wait for the possession and registry. At the time of registry get in on names you wanted to be in the sale deed.

The bank procedures are different. The bank has to be suitably compensated with the collateral security in case of the removal of your mother as a co-applicant and it depends on the discretion of the bank.