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Confuse about property
3 years ago
My father owns a flat in Ahmedabad.We take home loan for that flat in which my name is also in co borrower name .But in property deed and index copy there in no mention of my name.Now i want to take mortgage loan on against that property.Is it possible?
Sidhaarth
Responded 3 years ago
A.You are required to incorporate your name in sale deed etc. Since you are co borrower hence there is presumption in your favour of being co-owner but you require supportive document like sale deed etc.
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Ayantika Mondal @ Prime Legal
Responded 3 years ago
A.Hi,
You cannot apply for a home loan when the property does not belong to you. You can, however, apply for a personal loan for the amount after explaining your situation to the bank.
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You cannot apply for a home loan when the property does not belong to you. You can, however, apply for a personal loan for the amount after explaining your situation to the bank.
If you found this helpful, please rate us.
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A.Hi,
Your name will have to be on the title to be eligible for a home loan. If your name is not mentioned, the bank will not grant you a loan, as they will be under the impression that you can escape liability. You can try and apply for a personal loan instead.
If you found this helpful, please rate us.
Your name will have to be on the title to be eligible for a home loan. If your name is not mentioned, the bank will not grant you a loan, as they will be under the impression that you can escape liability. You can try and apply for a personal loan instead.
If you found this helpful, please rate us.
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