Dear Mam:

I am Rupesh Khetriwal, presently living in Howrah, West Bengal.

My Question: My brother has a flat (Sole owner). The flat is given to a Bank on rent and rent collected is about Rs. 9,500 per month. My brother has also taken a loan against the property from the Bank and rent is appropriated towards loan & interest.

The value of the property is about Rs. 20 lacs and the balance loan against that property Rs. 5.5 lacs.

My brother wishes to gift the property along with the outstanding loan to me. Please tell me if this is possible. If it possible what the procedure I have to do, please advice me.

Regards

Rupesh.