25% OFF on all LCI Courses. Offer valid till 5th Oct. Use Code: DUS25
LCI Learning

Share on Facebook

Share on Twitter

Share on LinkedIn

Share on Email

Share More

Rajesh (consultant)     11 January 2015

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



Learning

 2 Replies

Daksh (Student)     11 January 2015

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

Sudhir Kumar, Advocate (Advocate)     28 March 2015

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


Leave a reply

Your are not logged in . Please login to post replies

Click here to Login / Register  


Start a New Discussion Unreplied Threads



Popular Discussion


view more »




Post a Suggestion for LCI Team
Post a Legal Query