Property - New Flat Transfer To Other Person During House Loan | Vkeel - Free Legal Advice

Vishal Madavi

Nagpur

I purchased a new flat 2bhk at Nagpur registry on Nov 18 and sale deed July 20. Rs.32,89,000/- housing loan from HDFC Bank. Can I transfer the new flat to my friend name, but the EMI will be paid by me. She is not in my blood relation. I just want to know the procedure or legal process to do this and how to do. kindly advice me.

Expert's Answers(3)

Adv Ganesh Bhumkar
NA,

1 Client Ratings

property is mortgaged then you can not transfer property .if BANK gives permission and byer is ready to pay loan instalment then you can transfer the property. but this process required lot of permission and documentation.

October 15, 2020
Advocate J L Naagar
Jalandhar, Punjab

169 Client Ratings

Bank will not allow it till the loan is repiad and adjusted. You have to Clear the loan and then after getting Non encumberance Certificate you will have the Legal right to alienate the property as your your title will be cleared only after repayment of outstanding loans. Please give me Rank Five and follow me after reviewing my resume and book a consultation for further discussion and explanation if required.

October 15, 2020
Advocate Abhimanyu Gurawalia
Patli Hajipur, Haryana

60 Client Ratings

still there is a loan on the property same can not be sold or transfer

October 15, 2020