Legal Question in Banking Law in India

I have taken a Home loan from IDBI bank; now i want to add my father's name in deed or may be do a gift deed of the same..but bank is not allowing to do so! Although i have taked telephonically with them only ; please provide me a solution to the same !


Asked on 4/08/10, 4:28 am

3 Answers from Attorneys
AMAN SHARMA SHUBH C SHARMA and company

yes you can do so.. Bt not with gift deed or anything else.. What you should do is meet personally to the banker and ask him to do so.. You have to options either you pay whole loan amount and take n.o.c. From bank then deal with ur property as u like.. or.. U ask ur banker that u want ur loan transfer in ur dad s account or joint account.. It depend on banks to tbanks.. Somewhere it can be done by power of branch manager and sometimes with permission of head office..AND TRY TO GIVE AND TAKE WRITTEN COMMUNICATION IN EVERY CASE..

THANKS.. ADV AMAN SHARMA

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Answered on 4/08/10, 5:49 am
Sudershan Goel India Law Offices of Sudershan Goel - Advocate

You may visit the Bank and make a request personally. Or else, you may send them a written request by registered post.

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Answered on 4/08/10, 8:05 pm
RAJIV GUPTA (Cell: +91 9811284735) [email protected]

it is not posible as you your self are not the owner and the property is hypothected with IDBI bank. you can not gift it to your father by any means.

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Answered on 4/08/10, 10:57 pm


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