You need bank consent for wife ti execute gift deed in your favour 

2) bank will not remove wife name unless loan is repaid 

Bank NOV is mandatory requirement for executing gift deed or relinquishment deed 

Gift deed is the best option for you.
To get the bank papers you will have to approach the bank for the same. 
usually for any transfer of flat, Society or builder NOC is required 

By way of release deed. 

Please check with the bank for the loan eligibility in single name. 

If the bank is ok with you being eligible and taking over the entire loan then it is possible 

approach bank for removal of wife name as you are getting divorced and as per consent terms wife is executing gift deed in your name 

1. Since, you are paying the loan amount then you can be declared the single owner of the property 

- Your wife can execute a registered gift deed in your favor , after taking permission of the Bank. 

2. Yes, with the submission of the gift deed , bank is under obligation to remove the name of your wife 

- However , you should also submit the divorce decree copy to the bank as well. 

Steps:

1. 
   Draft Mutual Divorce Agreement detailing the property and payment terms.
2. 
   Execute and Register a Gift Deed or Release Deed from your wife to you.
3. 
   Contact IDBI Bank to inform and request loan restructuring.
4. 
   Submit Required Documents to the bank (Gift/Release Deed, Divorce Agreement).
5. 
   Request for Loan Amendment to remove your wife’s name and have you as the sole borrower.
6. 
   Complete Bank Formalities including any fees and additional documentation.

Each bank may have specific policies regarding the transfer of home loans and changing the names on the loan agreement. Consult with a bank representative for detailed procedures and requirements.

Dear Client,

1. Since the home loan is in both your names and the original papers are with the bank, your wife can surrender or transfer her share of the property to you through a gift deed or relinquishment deed. However, this transfer is subject to the bank’s approval because the property is under a mortgage. You should first discuss your intentions with the bank to ensure they agree to the transfer and can provide guidance on their specific requirements.

2. The bank can remove your wife's name from the loan if they approve the gift deed or relinquishment deed and you demonstrate your ability to repay the loan independently. The procedure generally involves submitting a formal request to the bank, along with the necessary documents, such as the gift deed, proof of your financial stability, and any additional documentation the bank requires. The bank will reassess the loan terms and may require you to refinance the loan solely in your name.

3. Yes, you will need the bank's NOC (No Objection Certificate) to execute a gift deed or relinquishment deed while the property is under a mortgage. The bank must approve the transfer of property rights and ensure that their interests are protected. Once the gift deed is completed and approved by the bank, you can proceed with the transfer of the loan solely to your name, provided you meet the bank's criteria for the loan restructuring.

1. Transferring Ownership with an Ongoing Home Loan:

It is possible to transfer ownership of a property even when a home loan is ongoing. There are two primary ways to do this:

• 
  Gift Deed: Your wife can execute a gift deed in your favor, transferring her share of the property to you. This would need to be registered at the sub-registrar's office.
• 
  Relinquishment Deed: Your wife can sign a relinquishment deed, giving up her rights to the property. This would also need to be registered.

However, keep in mind that transferring ownership does not automatically remove your wife from the home loan. You'll need to address that separately with the bank.

2. Removing a Co-Borrower from the Home Loan:

The process for removing a co-borrower from a home loan varies depending on the bank's policies. Here's the general procedure:

• 
  Inform the Bank: You'll need to notify IDBI Bank about your wife's desire to be removed from the loan.
• 
  Documentation: You'll likely need to provide the bank with the gift deed or relinquishment deed as proof of ownership transfer.
• 
  Assessment: The bank will assess your income and repayment capacity to ensure you can handle the loan alone. They may also consider factors like your credit score and the outstanding loan amount.
• 
  Approval: If the bank approves the removal, they'll amend the loan agreement to reflect you as the sole borrower.

Important Considerations:

• 
  Bank's Consent: The bank's consent is crucial for any ownership transfer or co-borrower removal. They may have specific requirements or conditions you need to fulfill.
• 
  Tax Implications: Transferring ownership through a gift deed or relinquishment deed may have tax implications. It's advisable to consult with a tax advisor to understand the potential tax liabilities.

To remove a co-applicant's name from your Home Loan

The original title document is held by the lender/bank for the purpose of home loan. For transferring your spouse's interests and rights over the property to your name, you require the original title document, hence it is pertinent that you obtain NOC from bank, though the bank may not grant NOC on your application until he entire loan is fully discharged.

As already opined, it is advisable to approach the lending bank to know about their own rules for this kind of transfer.

You will be enlightened about the formalities to be complied with for getting the property transferred to you in the mode you may decide.

In this circumstance if bank furnishes NOC then you may have to get it transferred by a registered gift deed only and not by a relinquishment deed.

No for gift deed or other transfer deed you don’t need noc

Yes, get the loan transferred to your name on the basis of the gift deed. Consult the bank officials once

- Yes, on the submission of those documents , bank can issue NOC 

- However, bank can ask for divorce decree and direction of the court. 

There is no obligation on the part of the bank to give NOC during the pending home loan and you cannot claim it as a right to bank to furnish NOC especially if the loan has not been fully discharged. 

The bank has nothing to do with your divorce or continuing the married life, hence the bank cannot remove the name of one of the borrowers just because the couple have divorced each other.

The bank will follow its own rules in this regard.   

It is again the discretion of the bank to relax the rules in the given situation especially if you are ready and willing to comply with the further instructions as instructed by the bank. 

Normally bank does not provide NOC until loan is repaid as loan application has been sanctioned by bank based on both applicants  incomes 

Dear Client,

Banks have their own policies and procedures for handling requests to modify loan terms, including the removal of a co-applicant's name. The bank will assess the primary applicant's (your) ability to repay the loan independently before issuing an NOC. There is no specific law that prohibits banks from issuing an NOC for the transfer of property and modification of loan terms in cases like yours. It depends on the bank's terms and conditions. The bank is not mandated by law to remove a co-applicant’s name solely based on the divorce decree. It still depends on the bank's assessment of your ability to service the loan independently. Make sure all required documents are submitted accurately and seek legal assistance to ensure that all procedures are followed correctly. Should you require any further clarification, please do not hesitate to contact us.