Removal of name from property
1 year ago
We have a house on the name of 3 member and currently housing loan( HDFC, NOT A MORTGAGE TYPE) is running on that property. Now we have come to mutual understanding that two names need to be removed from that property. But bank is not willing to give NOC for removal of name so it there any other way for removal of name ?
A.The name can be removed from the deed of your house and be replaced with the relevant beneficiaries.
The easiest way to remove the name of a co-owner from the deed of your house is by executing a release deed or relinquishment deed in your favour. This will make you the absolute owner of the property.
Few other ways methods on how to remove co owner from house title in India :
i) Sale/transfer deed
ii) Gift deed
The rules may be slightly different for residential property and commercial property.
You need to contact a lawyer or legal expert to prepare a relinquishment deed to remove co owner from the title deed.
The easiest way to remove the name of a co-owner from the deed of your house is by executing a release deed or relinquishment deed in your favour. This will make you the absolute owner of the property.
Few other ways methods on how to remove co owner from house title in India :
i) Sale/transfer deed
ii) Gift deed
The rules may be slightly different for residential property and commercial property.
You need to contact a lawyer or legal expert to prepare a relinquishment deed to remove co owner from the title deed.
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A.Dear Client
When there is a housing loan on the property which means the property is considered as the primary security for the loan and unless the loan is cleared the bank will not provide you the NOC.
When there is a housing loan on the property which means the property is considered as the primary security for the loan and unless the loan is cleared the bank will not provide you the NOC.
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