Dear Sir/Mam,
My father has a property which is self acquired.
3 years ago, he took a loan from me for Rs. 30 lakhs for renovating the property.
I need to now go out of India, and I am afraid that my brother may convince him to sell the property behind my back.
I want to know what are my rights or what can i do to ensure my rights are not breached.
Does this investment(for renovation) in property make me a legal co-owner in this property ?
Should I get a loan agreement made before leaving the country ? Can I ask him to attach property as collateral against this loan, to stop any sale without my consent ?
Is it legal for an individual to lend a loan against property to his family member ?