My father in Law and his younger daughter (My wife's younger sister) purchased a property in Mumbai in 2014 . My sister in law had to take bank loan. Bank gave loan only on condition that the property was registered in the name of my sister in law (There is such rule). Although 70% of the payment was done by father in law. But property is in the name of only sister in law.
Question
1: Can she later on make a release deed and transfer the property in name of her father and mother.
2: Currently she is unmarried, whats complication if she gets married in the mean time.
3: Can release deed be done with property papers lying with the loan issuing bank?
4: Does my wife (Father in law's elder daughter) Have any right on this property now? (without release deed,As she has also helped with payment, Payment was a huge one of over 1.10 cr )
Please provide me some answers. I am active here. If any details required.
I shall respond soon.
