Sale of property between daughter in law and sister in law
sriniwas
(Querist) 26 April 2015
This query is : Resolved
Hello Sir
I have a flat in Bangalore which was in my father and wife's name. Through gift deed property in given to my wife by my father. Now my wife want to sell the property and purchaser is my sister.
My Question:
1. Is sale is possible between Daughter in law and sister in law?
2. Bank is denying loan to my sister stating sale is not possible between sister in law and daughter in law.
3. what are the options for my sister to buy the said property and also get a loan.
Anirudh
(Expert) 26 April 2015
Dear Mr.Sriniwas,
The Bank is obviously wrong. In fact the bank appears to be not ready to give the loan and they are dishing out some untenable reasons.
Please approach some other willing bank for loan.
Dr J C Vashista
(Expert) 26 April 2015
There is no hitch or illegality in the transaction.
P. Venu
(Expert) 26 April 2015
The Bank is certainly wrong. You can approach another bank or take up the matters with the higher authorities or approach Banking Ombudsman.
Kumar Doab
(Expert) 26 April 2015
Apparently the reply by banker of bank us verbal and you have not recorded it.
You havw the option to supply minutes under proper acknowledgment and Demand a written reply by redg. Post and to return the loan application and supporting documents (narrate).....
Have you paid any processing fee?
Thereafter you can lodge complaint with Chairman........and any other forum of your choice.
You can approach other lending banks.......
Rajendra K Goyal
(Expert) 26 April 2015
The transaction is legal. Your wife can have gifted the property to your sister.
Lodge complaint to the chairman of the Bank.
T. Kalaiselvan, Advocate
(Expert) 02 May 2015
It is a valid sale deed and the transaction is very much legal including conveyance or transfer. The bank cannot deny on this ground, ask the bank to give the reason in writing and then you take them to task.
