I (male) am planning to buy a property in Bangalore. My mother is also funding 50% of the total amount, so the property will be registered in both the names.
I read in the bank's loan guidelines that if a lady is the first owner in joint ownership then I get some discount in interest rates. I want to know following things if lady is a first owner in joint property:
1) What all other benefits (eg. tax etc) do i get if lady is a first owner?
2) Do first owner has special privilege than the second owner?
3) Tomorrow if first owner expires then what would be the status of the property and if i want to sell the property then what all problems i have to face as being a second owner?
Regards,
Ks
