A mother have 2 sons. She is an housewife by profession. She purchased a land and asked the elder son to be a co-applicant in taking and repaying the loan taken for construction of house. The son support her mom and become the co-applicant and continously from last 12 yrs he is paying the loan. Now mother wants to do a gift registy to the elder son.
My Question is can she do the gift registy directly of the mortgage property without the concent of bank ? (as the person (i.e his son) to whome the property is transferred is the same co applicant in bank and based on his finacial repayment capacity the loan is disbured by bank.