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shine mangalore (advocate)     24 December 2011

Property loan

My clinet  has borrowed a loan in a bank where his wife is a sureity. They are getting the loan to buy a house. the house is for 55 lakhs and the loan is for 45 lakhs.

Can the house be jointly in the name of both my client and his wife

or

should it be in the name of my client alone.

Will it be a problem if it is  registered in both husband and wife's name.

 

Please advice.

Thank you for the valuable advise by you.



Learning

 3 Replies

asendilvel (Consultant)     24 December 2011

 

My clinet  has borrowed a loan in a bank where his wife is a sureity. They are getting the loan to buy a house. the house is for 55 lakhs and the loan is for 45 lakhs.

Can the house be jointly in the name of both my client and his wife

 

YES IT CAN BE

 

or

should it be in the name of my client alone.

Will it be a problem if it is  registered in both husband and wife's name.

THE LAW PERMITS TO REGISTER IT IN BOTH THE NAMES

1 Like

shine mangalore (advocate)     26 December 2011

Thanks a lot for your advice.

CAn it be changed in the bank loan document that the property will be borrowed in joint title?

asendilvel (Consultant)     26 December 2011

If the property is registered on jointly then no probs you can do it

else chk out on banks requirement

usually they welcome coappliant process

experts can advise


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