Name on title document on purchase of an apartment block

shankaran t d (Querist) 01 May 2017 This query is : Resolved
Me and my husband arejointly buying an apartment block chennai.while each of us want to share the emi to subsequently claim IT exemption on interest on loan availed for year can the title be solely in my name, or the title will carry my husband's name too?
I seel advice whether i should bear entire emi amount myself if otherwise.

Follow Query

Report Abuse

shankaran t d (Querist) 01 May 2017
Kindly adviseme on the above issue.

shankaran t d (Querist) 01 May 2017
I seek legal advice on this issue

Kishor Mehta (Expert) 02 May 2017
Madam,

The title should be in the name/s of person/s who seek loan from the Bank.

Please inquire with the Bank whether it is prepared to sanction a loan to your husband even if his name does not appear in the ownership of the property?

Good Luck,
Kishor Mehta

Kumar Doab (Expert) 02 May 2017
Discuss with lender.

Dr J C Vashista (Expert) 03 May 2017
Another query posted today itself on the same issue.

Rajendra K Goyal (Expert) 03 May 2017
IT exemption can be claimed by both only if the flat is in the name of both.

Paying EMI only without ownership in the property does not entitle rebate in Income Tax.

Kumar Doab (Expert) 03 May 2017
Isn't it same query:

http://www.lawyersclubindia.com/experts/Can-the-property-title-carry-name-of-wife-only-whileboth-wif-640031.asp

Guest (Expert) 03 May 2017
Agree with experts

Kumar Doab (Expert) 04 May 2017
Sum up your answers from all queries which have been responded.

Previous

Next

You need to be the querist or approved LAWyersclub expert to take part in this query .

Click here to login now

Similar Resolved Queries :

Ask Query
Unanswered Queries