abhi (sw engg) 30 January 2018

Add spouse name in the property registration for home loan

Hi I jointly own/registered a land in Lucknow UP with my mother. Now I want to start construction of house and for that I am planning to apply joint home loan with my wife in her bank but to do that I want to know the best easiest cheapest and legal way to get her name added into the registry and property papers in order to avail home loan. Thanks Abhi

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5 Replies

Subash M R (Advocate) 30 January 2018

First,let your mother's half share in the property be transferred in your name by way of a deed of gift,subsequently,you can transfer half share in the same property to your wife by way of a gift deed.

Thanking you,

abhi (sw engg) 31 January 2018

Ok, but why can't my mom transfer her share directly to my wife by gift deed, also do I need to have registry again in my and my wife's name

Vijay Raj Mahajan (Advocate) 31 January 2018

Your mother can gift her half share in your wife's name by registered Gift Deed. The stamp duty and other taxes as applicable in the district/State where property is situated.