Changing the name in the flat agreement

pgajra · #1 30-09-2008, 07:20 PM

Hi,

I have a flat in Mumbai which is on my n my brother's name. I want to remove my brother's name & put my mom's name. Brother has agreed to get his name removed. I have a home loan on the same flat with my brother as the 2nd name.

I would like to know how can I go about it, what are the things that I need to do to get this changed, what would be a tentative cost involved around this.

I would really appreciate if you guys's can help me here.
Regards,

parasurampur · #2 01-10-2008, 04:44 PM

Dear Pawan,
Change of ownership within family members can be effected by a gift document, the cost of the same for registration etc. may be around Rs.10,000/- or so.

Since home loan is pending against the flat, the original documents must be with the banker, hence it may be a difficult affair. Please contact with your banker in this regard.

Regards,
Venkatesh

pgajra · #3 06-10-2008, 07:04 PM

hi Venkatesh,
Thanks for the information. Can you also help me with how to go ahead for a gift document where can i get it done, had a word with an estate agent he said that you would have to make a new agree ment & your brother would have to give a written application. as well. costing around 50000, hence i am a lil sceptical here.

parasurampur · #4 10-10-2008, 03:49 PM

Dear Pawan,
All the information will be available with Sub-Registrar office.
Last year, one of my collegue had executed such gift deed in favour of her mother.
The registration charges were around 8% of actuals.
Regards,
Venkatesh