i am a joint borrower along with my brother, we have bought a property, by taking a joint loan from a bank, the emi are still being paid by both of us, and the loan has completed 2 years, it is a 15 year old loan.
kindly advise if i (the secondary borrower) can transfer the entire property (the flat) to the primary borrower, whilst the loan is still going on, as the property is financed by a bank loan.
if yes, how can it be done, and what could be the possible charges, as the flat is located in pune, mah.
if not, what is the alternative way out, where the secondary borrower wishes to move out of the joint ownership while the loan is still existing.
Your advise will be highly appreciated
thanks in advance