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sagar (Worker)     21 March 2021

"bank mortgage property"

We have purchased joint property with husband and wife as co-owner using bank loan. As per bank rules, property is mortgaged since we have availed loan. Due to difference between me and my wife, we have decided to go for mutual consent divorce.  Apart from selling property to other person.

What are possible option do i have ?. 

* Can my wife execute rectification deed into my name and i continue with existing home loan alone?.

please help.


 2 Replies

Hetal N. Bhayani   21 March 2021

Your wife can execute release deed and vice versa and the consideration can be settled as per both of your wish and it can be part of the consent terms of mutual consent divorce.

sagar (Worker)     21 March 2021

Can she execute release deed while still bank loan mortage intact?. Given that she is also co-applicant, will bank allow us to execute release deed?.  How the release deed process work in bank mortage property.?

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