Legal Question in Intellectual Property in India
my mother have 20,000 sq. ft area of land in mangalore and she is ready to give me and my elder brother 10,000 sq ft. of land out of the total land. myself and my brother wants to build a home on that piece of land, but i want my mother also to be the co-owner of that house (She is not earning), me and my brother will jointly finance the house. Is it possible?? and how?? please
Asked on 3/16/13, 8:04 am
4 Answers from Attorneys
Fca Prashant Chavan
Expert Edge LLP
16.03.2013
Dear Sir,
You can get a home loan by the mortgage of the land to the bank as security.
Regards,
FCA Prashant Chavan
Mumbai
(You can also mail me for any further on-line advice at [email protected])
Answered on 3/16/13, 8:17 am
Jayesh Desai
Jayesh Desai
Yes, it is possible. Divide the property after construction and keep mothers' name along with each brother; independently.
Answered on 3/18/13, 11:00 pm
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