Legal Question in Real Estate Law in India

My mum-in-law wishes to invest some of her savings into a property but she does not have enough to buy off the whole value of the property and hence wants to jointly own that along with my wife so that a bank loan could be availed. My Mum in law cannot avail a bank loan as she is not working. Is there a problem in my wife and mum in law becoming joint owners of a property and co-applicants in teh home loan? Also can i be a co-applicant in the same home loan even if im not the owner of teh property?


Asked on 10/04/11, 2:12 am

4 Answers from Attorneys
Shrichand Nahar S.V.Nahar, Advocate

Perception that something is a problem or not vary from person to person.

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Answered on 10/04/11, 9:57 pm
RAJIV GUPTA (Cell: +91 9811284735) [email protected]

there may not be any problem.

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Answered on 10/04/11, 11:02 pm
KarVai Legal Solutions Rajiv Gupta 9811284735 Ch.No: 359, Western Wing, Tis Hazari, Delhi www.karvai.in

may not

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Answered on 10/05/11, 12:42 am
Sudershan Goel India Law Offices of Sudershan Goel - Advocate

There is no difficulty in law to own property jointly and to make a joint application for loan. The terms between co-applicants should be made clear in writing to avoid any future dispute.

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Answered on 10/05/11, 7:30 pm


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