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gift deed of existing home loan property

Dear sir/madam, I am having housing loan on my property which was gifted by my father to me as i am bank employee seeking stuff loan so property sud b in my name, now i want to gift it back to him, can i do it? The reason is my wife creating trouble although she doesn't know that i have the ownership. Can it be possible without informing bank?

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prabhakar advocate (advocate) 27 September 2015

If the loan is still outstanding against the property, it must be under mortgage of the bank, and if your father would like to receive the gift along with outstanding loan with an undertaking to the bank that he would pay loan dues and bank does not have any objection for such arrangement, you can gift it. If there is no loan outstanding and you have clear title, you can gift it to anyone you like including your father.

Sudhir Kumar, Advocate (Advocate) 27 September 2015

100% proof is not required to be produced in depttl inquiry. In your case it is apparent that :- (I) your father was not credit worthy and he had property. (II) you got the property transferred to your name and got loan from bank as employee without telling the bank that after sanction of loan you will revert property to your father. (II) After sucking this loan you transferred property to your father (whom bank may not have otherwise given loan).