Buying flat as partners

Originally posted by : jyoti
	I and my boyfriend want to buy a flat together and register in both our names jointly. Can it be done? What legal formalities are required for registering the flat jointly in our names? I will be taking a house loan and the rest of the money will be given by my boyfriend as cash.

Yes it can be purchased and registered in the joint name with your boyfriend, there is no legal infirmity.

However, Bank may not sanction loan in favour of both of you. 

Banks always make the other as co-obligant.   Consult a local advocate for guidance in drafting the sale deed and he may be having knowledge as to how many of such properties in litigation due to disputes within partners and with other family members due to the sudden death of titleholders..

Hello,

You can purchase a flat in the joint name i.e. in your name and your boyfriend name. You have to execute agreement with the seller and register the same by paying stamp duty and registration charges with sub-registar office. 

Members can not express an opinion on as to whether the Bank has any issue or not.  If the worth, EMI repayment competencies are there, the bank may just insist a co-obligant (nearest relative).  You can show the amount given by your friend as gift in your IT returns.  The bank is not bothered about your proportion of the contribution as margin money.  They are bothered about whether there is an investment from the borrower or not.  Normally no banker can reject housing loan if the borrower is herself having repayment capacity.