Vijay Nair
12 June 2008 at 15:37
My father owns a flat in Mumbai in a residential Co-operative Housing Society . We've been approached by a builder to redevelop the building . We've an option to go for extra area & we've to pay the builder as per the extra area we want to buy . I want to know -
1)Although the property is in my fathers name , can I avail of a home loan for the extra area we want to buy .
2)If No , can I become a joint owner & then avail of loan . How do I go about becoming a joint owner .
3)I've just been deputed to USA . Can I become a joint owner by registering the property in my fathers name & myself . I can issue a Power of Attorney to my father to sign on my behalf .
House loan for fathers property
My father owns a flat in Mumbai in a residential Co-operative Housing Society . We've been approached by a builder to redevelop the building . We've an option to go for extra area & we've to pay the builder as per the extra area we want to buy . I want to know -
1)Although the property is in my fathers name , can I avail of a home loan for the extra area we want to buy .
2)If No , can I become a joint owner & then avail of loan . How do I go about becoming a joint owner .
3)I've just been deputed to USA . Can I become a joint owner by registering the property in my fathers name & myself . I can issue a Power of Attorney to my father to sign on my behalf .