Can i avail home loan on my father in law land


Dear all,

My father in law recently purchased a land.  Want to construct a house in that.  For that as a Son-in Law can I apply a home loan on my name?  is it possible.  

The Land is jointly bought by my Father in law and my mother Law.

What are all the things which he need to do so that I can apply home loan.

 

Regards

Rajesh

 
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Student

Dear Mr.Rajesh, 

There are two limbs of your query.  First of all you need to clarify that your In Laws want to remain owners of the land in question (then the Bank may be having reservation in giving loan to you as the land stands in other person's name).  Otherwise if you wish to take loan for the constructions purposes it is advisable that you should have a perpetual lease executed in your name so that you may be able to  show to the bank that you have got right to use and occupy the land and wish to construct dwelling on the same.

Hope this clarifies.

Thanks and best regards

 

Daksh

 
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Dy Director

Not a legal query.  Ask bank if they are willing to given loan to a non-owner for housing purpose.

 
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