Dr J C Vashista (Advocate) 21 March 2019
No. it can not be transferred till there is encumbrance, claim and interest of financer on the property
Get the loan liquidated/ repaid before the property is transferred in your name.
G.L.N. Prasad (Retired employee.) 21 March 2019
When the original sale deed is under equitable mortgage with a bank, without repaying such housing loan of a financial institution, transferring the title to spouse amounts to fraud. However, most banks insist spouse guarantee and if you have signed as Guarantor, you may obtain the written permission and NOC and as per their directions can get the title transferred incorporating the amount of outstanding with that bank as a clause in sale deed/ gift deed. Contact the Bank's advocate for guidance.