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rahulseth   30 March 2015

Borrower rights on property

Hi,

The property is registered at delhi with mother's name. I am having the loan against that property with my mother as co-borrower. Do I have any rights on the property as such or it has to be transferred by my mother? In case of any disputes , do you see any rights for me? The loan is totally being paid by me.

Thanks

Rahul



Learning

 1 Replies

Hardeep (Business)     31 March 2015

You don't have any rights. In fact your mother has helped you by becoming your co-borrower and so, in effect, agreeing to bear your liability ( since you are paying the loan, I take that the loan is for your purpose )  . If you default on loan it is her property that the bank will try to possess.

 

 

 


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