After partition deed can apply home loan

Swarup kumar das (Querist) 06 December 2021 This query is : Resolved
I have a joint property with my sister,Now we decided we are construct g+2 bulding.We are going to make Registered partition deed.My sister having sufficient money for construct the property but I can't,hence I need home loan,but my sister not interested for home loan.can I apply home loan in favour of said partition deed.

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If you have a joint property with your sister and decide to partition it, you can apply for a home loan for your individual share after the partition deed is registered. While you would need to apply jointly with your sister if the property remains undivided, a registered partition deed makes you the sole owner of your portion, allowing you to secure a loan independently. It's advisable to consult with your bank for specific requirements.

kavksatyanarayana (Expert) 06 December 2021
After the partition of the property, you can apply for a home loan for your share. Without partition, you shall apply for a loan jointly with your sister. However, consult in Bank concerned.

Advocate Bhartesh goyal Online

(Expert) 07 December 2021
Yes after duly registered partion deed between you and your sister,you will become absolute owner of your share in property and can avail the facility of loan without joining your sister.

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