New LIVE Course: Learn the Practical Nuances of IPR Drafting by Adv. Gautam Matani. Register Now!
LCI Learning

Share on Facebook

Share on Twitter

Share on LinkedIn

Share on Email

Share More

Suresh (IT Consultant)     23 October 2009

Regarding Gifting and purchase



Let me first thank all for clarifying my previous queries. I had a couple of followup queries.


1) My brother owns an apartment and is paying emi for the homeloan. If i want to purchase the same from him, what is the minimum value that he can sell to me for?


2) I also own and apartment with complete home loan cleared. Can i gift this apartment to him? What is involved in doing this?

3) I am sure that i will need a property lawyer for all this. If yes, is there anybody on this forum who can help me proffesionally end to end in this matter in PUNE?


Thanks in Advance.





 4 Replies

Saket Gandhi (advocate)     24 October 2009

Hi Suresh,

Firstly ...U own a flat and your brother also owns a flat.. another thing here is that u have no loan on your flat while your brother is yet to clear the loan advance to him...

Now i suppose query no.1 connected to query no.2.. if yes then please let me know so that i can suggest accordingly...

Thanking you,

Saket Gandhi


Suresh (IT Consultant)     24 October 2009

Hello Saket,


Thanks for goung through my post and your reply.

Yes,thats right, He owns a flat but still has a home loan where i dont have a home loan on my flat. And yes both my queries are connected. And since he going through some difficulties temprorily, i wish to help him out by transferring my flat to him and also let him have extra cash by buying out the flat. I assume this is a win-win for both of us since i am in good posiiton to take up a loan.

Hoping this simplifies....









Suresh (IT Consultant)     26 October 2009


Any help here?




Saket Gandhi (advocate)     28 October 2009

Sorry Suresh u might have waited for my reply....But due to unavoidable circumstances i was not able to answer your query.... 

I will have to refer the matter keeping certain acts in mind.. so will post your answer tomorrow..



Leave a reply

Your are not logged in . Please login to post replies

Click here to Login / Register