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Gift deed after mutual divorce
7 months ago
Hi,
Me and my wife got divorced in April 2023 and as per the decree conditions agreed, I have to pay her a certain amount after which she will relinquish her rights on our under construction property ( possession in next 2 months). I pay the EMI’s and have home load on the property which I will continue to do. My question is can a gift deed be executed after divorce for transfer or property or any other process is involved? I stay in Mumbai
A.Dear Client,
Since you mentioned that you have a home loan on the property, you should obtain consent from your lender for the transfer. The lender's approval is typically required because the property serves as collateral for the loan. It's important to consider the stage of construction and possession of the property. If the property is still under construction and possession is expected in the next two months, you may need to ensure that the builder or developer is aware of the transfer and consents to it.
Since you mentioned that you have a home loan on the property, you should obtain consent from your lender for the transfer. The lender's approval is typically required because the property serves as collateral for the loan. It's important to consider the stage of construction and possession of the property. If the property is still under construction and possession is expected in the next two months, you may need to ensure that the builder or developer is aware of the transfer and consents to it.
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A.Dear Sir,
You can execute gift deed only after you get the property absolutely. If you become absolute owner then there is no force from any side for you to refrain you from executing gift deed.
You can execute gift deed only after you get the property absolutely. If you become absolute owner then there is no force from any side for you to refrain you from executing gift deed.
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