In brief my situation is below
My father has a property which is got from my father's grandfather. We have few old documents which showed that the property (old house) was bought by my father's grandfather and given to my grandfather. No patta is there in the old documents.
My father and his only sister are the owners of the property. My father has got the patta in his name. Now the old house was demolished and reconstructed. My father and his sister has mutually agreed and shared this property (dhanam settlement made by father to his sister and not bhagapirivu).
My question is both the property owners have agreed mutually to share the property. The registrar has informed that only dhanam settlement is possible as my father owns the patta. Is there any problem in this scenario. We are looking for home loan and the property is shared mutually.