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Valarmathy (Technical Lead)     29 May 2014

Co-ownership agreement after taking homeloan

Hi,

My husband had taken the home loan before marriage and the property is registered in his name alone. after marriage i have been joined as co borrower of the loan and share the EMIs, however the entire EMI is going on my husband's salary account alone. Now i need the co-ownership of the property so that i can claim the IT deduction and also avoid any problem in future in sharing this property. When i checked with the lender, they said i cannot add the co-owner now as per registration norms. Any guidance on this will be greatly helpful. i dont want my husband leaving me with no share my house due to some family issues we have.



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 1 Replies

T. Kalaiselvan, Advocate (Advocate)     01 June 2014

A co-borrower cannot become a co-owner of the property.  If you want to become a joint owner of the property, your husband may execute a registered gift deed in your favor gifting/transferring  half share in the property, you should talk to him and decide.


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