gift deed a property which is having a existing home loan
Guest
(Querist) 26 September 2015
This query is : Resolved
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?
Rajendra K Goyal
(Expert) 27 September 2015
Being a staff member, you may attract departmental action if you dispose of property mortgaged by you with the Bank.
Kumar Doab
(Expert) 27 September 2015
Agreed with Mr. Goyal.
It shall be better to clear the loan,obtain NOC/NDC before you contemplate to effect any change in title/ownership.
You may explain the problems that you are facing from wife to your able lawyer specializing in family law and understand the merits and options and remedies.
K.S.Srinivas
(Expert) 27 September 2015
No. It is not possible. Clear the loan and then only it can be gifted.
Sudhir Kumar, Advocate
(Expert) 27 September 2015
Agreeing with experts above I will add that I have specifically asked whether this is Govt Bank. If it is Govt bank then even CBI case can be registered against you.
Sudhir Kumar, Advocate
(Expert) 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).
Sudhir Kumar, Advocate
(Expert) 27 September 2015
repeated
http://www.lawyersclubindia.com/forum/details.asp?mod_id=127614&offset=1#.VgfHym6N5v4
Guest
(Querist) 27 September 2015
Its govt bank, and i dont have capacity to repay the loan in full at this moment. I want to continuing pay the emi from salary as i am doing. The only intention is to trf the ownership bcz i want to file divorce case against my wife.can i do it without intimating Bank. Bcz noc is not possible.
Dr J C Vashista
(Expert) 28 September 2015
If you do not have capacity to repay loan then why did you opt to repeat same query?
If you were not satisfied with the advise rendered by the experts FREE OF COST you must contact, consult and engage a local lawyer for proper opinion, advise and proceeding in a professional manner.
Guest
(Expert) 28 September 2015
Your question seems to be ambiguous and of academic nature, as you have not mentioned whether the housing loan was taken by your father before gifting the house to you or you have taken the home loan after the house was gifted to you? Can you clear the point?
Guest
(Querist) 29 September 2015
I have taken the loan after gifted by my father. Now i wish that if it can get transferred to ny of my parents name then my wife cant claim. Nd ofcourrse if will contact advocate but just to inquire whether will it be possible or not.
Guest
(Expert) 29 September 2015
Even if you try to gift the property back to your father without the knowledge of the bank, he would not be liable to pay bank's housing loan due from you. Besides the lien of the bank on your property, the payment of EMIs will remain your own liability till the amount of loan thereby tending the gift deed to become void.
Guest
(Querist) 29 September 2015
Thanks for the reply sir, i will continue paying there is no problem, i just want to safeguard against divorce maintatance or alumony. Kindly clarify on the same only. Thanks in advance.
Guest
(Querist) 29 September 2015
Onething more if possible as i mentioned above then when sud i do that before filling divorce or afterwards also i can transfer the right.
Sudhir Kumar, Advocate
(Expert) 30 September 2015
" when sud i do that before filling divorce or afterwards also i can transfer the right. "
after refund of loan.
T. Kalaiselvan, Advocate
(Expert) 02 October 2015
First of all there is no reason to be afraid of divorce or wife especially when the property matter comes to picture. She is not having any right in the property neither she can claim a share init as a right either before or after divorce. There is no law in that regard and if she files a suit with such claim, it will not be maintainable in law. Therefore do not indulge in such an illegal act of transferring the property to anyone without discharging the loan obtained on the strength of the property.
Hemant Agarwal
(Expert) 12 November 2015
1. Disposing off ANY property, by way of any type of alienation, which includes Gift or Sell, on which Bank Loan is availed of, shall be punishable for Criminal Cheating. The guarantor (if any) would also be equally liable.
2. As it is, the Bank would have retained the Original Documents of the said Property in their records, hence there is question that further Gift or Sale can take place, without obtaining the Original Documents of the said Property, from the Bank.
Keep Smiling .... Hemant Agarwal
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