gift settlement

Querist : Anonymous (Querist) 02 April 2011 This query is : Resolved
Dear Advocates, there is house which is in the name of the husband and is built by taking a bank loan for 15 yrs. Now the wife needs this property in her name due to some domestic problem. Is it possible to get the property transferred to her name by gift settlement(the husband gifts this house to his wife) even when the bank loan is due. The wife is a home maker and does not have any seperate income.

Will the bank object to this..
also adv what will be charges for this gift settlement..

Follow Query

Report Abuse

A V Vishal (Expert) 02 April 2011
A gift from the husband to his wife is possible only with the prior permission of the bank.

As far as the charges are concerned the stamp duty and registration charges vary from state to state. Since there is no mention of the same in your query, the expenses part cannot be advised.

Advocate Bhartesh goyal (Expert) 02 April 2011
yes husband has to pay all the amount due to bank or has to take prior permission from the concerned bank to gift the house to his wife.

R.Ramachandran (Expert) 03 April 2011
So long as the bank loan is outstanding, the bank will not give permission for any such action (gift etc.) by your husband.

Previous

Next

You need to be the querist or approved LAWyersclub expert to take part in this query .

Click here to login now