Hi,

My in-laws share the property title of a flat in pune, maharashtra with me and my wife. The transaction was done this way as the builder owed some money to my in-laws. So the agreement says that we pay the builder the remaining amount and the flat is ours.

Now the problem is for the remaining amount I intend to borrow a home loan, but we want the title to be clear and don;t want the in-laws to be the co-borrowers / applicants. What is the way out? Should they first gift the property to the daughter and then we remove their name from the registration? is that possible? what would be the charges ? I am sure banks won;t give us loan unless the in-laws are also co-borrowers/signee.

Please advice.

Ravi.