I am a hindu and have purchased a flat with a bank loan. the flat is in my sole individual name. I am married after the purchase of the flat. The bank loan is still existing. I want to gift this flat to my only sister (married) out of love and affection. And I want to repay the balance loan to the Bank.
Can I do so? If yes, do I have to take bank prior permissoin. Whether bank will object to such transaction?
If I can do so with bank consent, can my wife has any right to challenge such gift?
