Hello i need a legal advice in the following context.
I am a recently married person. During the marriage time my father in law was agreed to give a flat of worth30 Lacs (which is currently registered on his name and he took home loan also on this property. This bank loan will get closed by 2014, Orignal documents he will get back only by 2014) as a marriage gift to his daughter.
1) Is it possible change the registraion from his name to either my wife's name or jointly my name & my wife's name right now i.e. before closing the bank loan?
2) If change of regsitration is not possible right now, If i want to take a written assurance from him what can i do right now i.e. asking him to give in writing the same on a100 stamp paper is sufficient.
3) After 2014 if he is ready to change the registraion doing as a gift deed is better or change of registration is better from my perspective. Or in other works what are the disadvantages for me by making gift deed.