Settlement deed

S S Kumar (Querist) 30 August 2015 This query is : Resolved
Sir,
I am having an apartment in chennai,I want to gift to my elder brother who is NRI,because in Tamilnadu Gift registry is very costly. Now the question is whether my brother can avail loan against settlement deed with out any hassles,also please clarify can he possess full rights on that property with settlement deed
Pl clarify

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S S Kumar (Querist) 30 August 2015
Sir
When I will get reply

Advocate. Arunagiri (Expert) 30 August 2015
You can execute a settlement deed in your brother's name. The cost will be Rs.25000/- maximum, in Tamil Nadu.

Kumar Doab (Expert) 30 August 2015
The lender shall give loan to owner of the title.

If ownership can be obtained in case of Flat in question by settlement deed then the lender may not hesitate.

Check with your lender.