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Rohan Varekar (Sr Software Developer)     21 February 2013

Home loan on parent property?

Hi,


I are buying property ( 1 BHK Flat ) from my uncle's ( 3 uncle's ) . This property is Joint Family Property in which My father was also joint owner.

After my father death as per hindu low, rights of my fathers will be give to my mother. Now this property belongs to my 3 uncle's and my mother.

As a settelemtn of this property I am buying this from property from my uncle and paying them the cost of property.

So while making sale deed my mother name is also mentioned as one of seller from whome I am buying the Property.

Do i face any issue while applying for home loan as my mother involves as Seller?

If yes how i can avail homeloan to pay the cost to my uncle's.



Learning

 1 Replies

Arvind K. Vashistha (Attorney and Counselor at law...)     22 February 2013

You treat your mother as a seller like others in this deal.

No, there is no issue while applying for home loan as your mother involves as Seller.


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