Loan against a property
sri lalitha
(Querist) 08 November 2012
This query is : Resolved
Dear experts
I am owning a house property which was gifted from my husband to me and his grandmother has executed a Will for that property in the name of my husband. Unfortunately my husband's grandmother expired before my husband registered the Will. Taking this as reason my husband's cousins have filed a case in the civil court against my husband, me and my husband's mother. They are just prologining the case filed with several reasons that they are hospitalised and the case is stand still. The house property is a 100 year old house and we cannot either stay in that house nor can construct that as a case is filed against this. So please advise whether --- Is there any chance that we can take a Loan against this property from bank or any other financial institution ?? We hold the original documents, electricity bills, property tax etc since 10 years which are in our name. Please help with the possibilities by which our family can be benefited. They are just trying to harass us with a hope that we would share that property.
thanks
srilalitha.
new vikas junior college,
Bangalore.
ajay sethi
(Expert) 08 November 2012
registration of will is not mandatory . if grand mother had executed will in favour of your husband then your husband would be owner of property in event of death of grand mother
husband ought to have applied for probate of will in case of disputes with other members of family
husband could gift the property to you by regd gift deed . you can stay in said house .
