Tax benefit on joint home loan but not joint owners

Solution: let your father partly sell the property to you, so that you become co-owner...

Sir,

Thanks a lot for your response.

I am a novice and have very limited knowledge and experience regarding this issue.

In reference to the above response, I have a follow up query.

Is it possible for my father to partly sell the property to me because the property documents are with bank?

I have searched for various means for property transfer - sale deed, gift deed etc.

By using gift deed is it possible for my father to transfer part ownership to me considering the above scenario?

Is there any other solution apart from gift deed which is both legit and easy?

Thanks

 

Gift deed is more suitable in your case.

Get written permission from bank for the bank for the partial gift in your favor.

Errata::   Get written permission from bank for the partial gift in your favor.