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Transfer of house ownership
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TSenixcv123
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 May 17 2019, 08:42 PM, updated 7y ago
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Guys, need some help here.
I need to know what is the procedure of transfering ownership from one brother to another brother.
1. Still loan with bank.. another 25 years to go.
2. The bro that holding the ownership is currently living at other country. Already cut tie with him due to person reason, and he is the main principle when borrow loan.
3. The house is joint with 3 names.
Fyi, I just want to make sure that he is not entitle anything at all, and worried he will get one third once the loan is settled.
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TSenixcv123
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May 18 2019, 09:26 AM
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QUOTE(edyek @ May 18 2019, 08:04 AM) How to make sure he is not entitle to anything? The house is joint with 3 names including his, and he is the main principal borrower. When the loan is settle and he did not sign any transfer, he has the right to 1/3 no matter what. Unless you buy the property from him and 2 other owners. Otherwise there are no legal way to make sure he doesnt get what he has the right to have. Does Power of attorney works in this case? That I can force him to sign that. All the payment are done from my account since first day. |
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TSenixcv123
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May 18 2019, 09:28 AM
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QUOTE(Daylight2018 @ May 18 2019, 08:15 AM) Do u have proof that he did not pay for the loan? E.g. payment of loan is from you? If he did pay for his share, good luck trying to do so. He didn't pay a single cent for that. All the loan payment is directly from my account since day 1. |
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TSenixcv123
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May 18 2019, 10:01 AM
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QUOTE(edyek @ May 18 2019, 09:46 AM) Another solution is to sell the property and u re-buy it back. If your financial can loan the amount for property sale. This way, you dont have to wait X years for loan to settle and use the P/A to transfer. Which anything in long run will most probably cost you problems. Chinese say Night Long Dream Many. Thank you ! I was thinking the same way too. If let say sell the property at the same value and re-buy back by my another brother, would that be legal? Also since my name is there, can I re-buy back as a joint name as well? |
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TSenixcv123
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May 18 2019, 10:10 AM
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QUOTE(edyek @ May 18 2019, 10:04 AM) Yes, you can. Bought 300k by A B and C. Now sell 300k by A B and C. B and C buy at Rm300k. B and C only have to make sure A is willing sign and sell. Got it. Thank you! |
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