Manas (sse) 09 November 2009

changing the ownership of property

Hi, I have purched a property by taking HOME LOAN from a bank 3 years back, i am still Paying the EMI, it is for 20 years term.

While registrating the property it was registered on my Father's name as i was unavailable at that moment.

In the LOan application i am also a co-applicant with my father who is the main applicant.

My Question is :How can i change the ownersship of the property to my name , so that it became the self owned property for me rather than ancestor's property.

I wanted to take the full ownership of the property , as i am the only person who is repaying the entire LOAN. and i dont want any controversy would happen as i have brothers and sisters as well and they can claim it as an ancester's property later on.

Please suggest me any legal way that i can take the ownership of the property.

Note:loan is going on and the originals papersof the property are also lying with the bank.

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3 Replies

adv. rajeev ( rajoo ) (practicing advocate) 09 November 2009

just u get the rights relinquishment deed (regd.,) in your mentioning the facts what u have said here.

It is easiest and cheapest method to get transfer the property.

Raj Kumar Makkad (Adv P & H High Court Chandigarh) 09 November 2009

Beware your father is now legally owner of the property mentioned by you and no other person including you have no any relation with its ownership. So better you convince your father and adopt either of 2 ways:

1. Get Registration of Release-Deed from your father in your name

2. Fiel a civil suit for declaration on he basis of family settlement.