I had purchased a property in 2006 in pune, Maharashtra with Bank loan of 10Lac. I had purchased the property in my name only. Now I wish to attach my mothers name to this property. Is there any way I can do this ?
IF THE PROPERTY IN QUESTION IS MORTGAGED TO BANK,THEN YOU CANOT CHANGE THE TITLE WIHOUT BANK'SWRITTEN CONSENT.YOU WILL HAVE TO CLOSE THE LOAN ACCOUNT TO DO THIS.IT BETTER YOU NOMINATE THE NAME OF YOUR MOTHER IN THE RECORDS OF THE SOCIETY IN WHICH THE PROPERTY IS SITUATED.OR IF THE RULES OF THE BANK PERMIT YOU CAN NOINATE HER THE BANKS RECORD.
Mr. Kulkarni is right. You cannot execute any document keeping bank under dark. After all it is a transfer of property and you cannot create a valid transfer unless the property is free from all encumbrances.