Co borrower in title deed

Rahul (Querist) 31 May 2014 This query is : Resolved
Hi
I'm planning to buy a property on loan in Mumbai. For the loan application I have made by dad as the co borrower. Is it necessary to have my dads name as a co owner on the title deed or I alone can be the owner of the property? Also in case of my demise to whom will the ownership gets transferred before and after my marriage?

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Guest (Expert) 31 May 2014
Not necessary.

BAALASUBRAMANNYAMM (Expert) 31 May 2014
1. For the purpose of bank Loan, you need not shown the name of your father in the Sale Deed.
2. With regard to your second question, before your marriage, your parents and after your marriage, your wife is entitled to get ownership rights.

Rajendra K Goyal (Expert) 31 May 2014
For Bank loan, the name of co-borrower not necessarily be added in title deed.

After you the property would go to your legal heirs.