Hi! A friend of mine has filed for a Divorce By Mutual Consent!! On of the Conditions of the Mutual Compromise Deed is that the house ownership will be transferred in name of Wife. The houseis on loan and registered in name of my friend solely. The proceedings are underway at Delhi and the propoerty is in Maharashtra. There are two issues :
1. The lady is insisting that property be transferred first through registration then she will come for Second Motion while my friend is insisting on transfer by way of GPA at time of decree as he is apprehensive that the once the propoerty is registered before the second motion/ final decree, the lady may not trurn up !! What is the rule position on this to ensure apprehensions of both parties are addressed.
2. The said house is on loan !! One of the clause of Mutual Compromise Deed says that House ownership will be transferred in name of the lady while the second party can continue to pay the outstanding loan to the bank as per existing terms till loan is fully paid up !! In such a case the Title Ownership can not be transferred till settlement of Loan while the LADY IS INSISTING FOR THE SAME !! wHAT IS THE LEGAL POSITION AND WHAT IS THE WAY OUT !!
