The problem is banks usually don't give NOC in these type of cases.
Private banks just get signatures in Memorandum of deposit during loan sanction and doesn't get it registered in sub registrar office. Bank just keep this MoD as a stamp paper in their custody. As such, the mortgage details won't reflect in encumbrance certificate. Therefore, the sub registrar won't have objection in doing these deeds.
Suppose my wife (who is a co owner and co applicant of loan) executes a release or gift deed in my favor without obtaining bank's consent and thereafter I will inform bank about this and later if I do a Memorandum of deposit in favor of bank and reconsider the loan in my name alone, will this attract any legal complications?
Can I put an email to the bank intimating that their non response in giving an NOC after several reminders and attempts have put me in a situation to execute release deed on my own.
Kindly provide opinion.