My father has gifted his flat to my elder brother and gift deed has been regd in August . Society has transfered that flat now in January 2017 in my brothers name . Now i want to exchange my flat which is also in same bldg with his gifted flat .For that i need to take loan and bank is demanding NOC for mortgaging that gifted flat but society is not ready to give NOC saying that it has been transfered just now and cannot be transfered again within one year . But lawyer says that one year transfer rules applies only if both are sale deeds and in our case first transaction is gift deed and next will be sale deed betwn two brothers . He also says since it is within family it can be done .Now society wants in writing confirmation from federation what is exact rule in such case . So what to do now pl help me
Feedback/Suggestions
Dear Mayuresh,
Your lawyer is right approach the federation.
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