Income tax benefit for co-borrowers

I have bought a property in name of my mother only who is a housewife.

I have taken a homeloan for same in which my mother and i are co -applicants.

I am just co-borrower and not co-owner.

Now according to income tax rule co-borrowers are not entitled for tax benefits.

If through a gift deed my mother makes me 50 % owner of the property, then can i avail tax benefits.