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We bought a house in my father and brother’s names, and it is mortgaged. My brother and I are paying the EMIs equally. Without repaying the loan fully, how can I replace my father’s name with mine?
To change ownership without clearing the loan, you’ll need bank approval first. The bank may allow a release deed or name change with their consent, especially if EMIs are being paid regularly. This usually requires a gift deed or sale deed, along with stamp duty. For further legal assistance contact us on our helpline number.