Property Transfer
Querist :
Anonymous
(Querist) 14 April 2011
This query is : Resolved
I have purchased house on my grandfather’s name (my grandfather alone entered in sale deed) to follow rules & regulation of co- op society.
I became co-borrower to above property to get loan from financial institute. Accordingly My name is appearing in 7/12 extract along with my Grandfather’s name. My grandfather passed away in 2004.
I have below queries,
1. Being a co-borrower, am I owner for ½ shares in above house, as per law ?
2. IF yes, then how to transfer rest ½ share of above property to my name? My Grandfather had 3 sons & one daughter. Out of which 02 sons & daughter are no more in world and only one son i.e my Father is alive and he too is ready to release his rights, as a successor, if queries arise, to me.
3. What % to be considered while releasing the rights.
With warm regards,
R.Ramachandran
(Expert) 15 April 2011
If there are no children of your deceased uncle(s) and aunt(s), then your father has to give a registered relinquishment deed, relinquishing 'his entire interest (one need not say what %) in the property in question' to ..... On the basis of the said Registered Relinquishment Deed in your favour, you can get the entire house mutated in your name.
Querist :
Anonymous
(Querist) 15 April 2011
Thank u Sir for replying.
Could u please give your opinion on point no 1 of my query ?
