Joanna Berry 01 February 2021

My father in law wants to write the terrace in my name.

Hello Respected Sir My father in law wants to write the whole terrace of his house in my name . So that we could build a house there on the terrace for us, can he give that terrace as a gift to me.? Secondly can avail a house loan it.? Thanks for Reading warm regards Arpita.B

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Quick Summary

This discussion explores the legalities of a father-in-law gifting a terrace to his daughter-in-law for building a home. It clarifies that a terrace can indeed be gifted, and crucially, that a gift deed can be used to secure a bank loan for construction. For a legally sound process, especially if it's a housing society, obtaining an NOC and consulting a local advocate is recommended.

2 Replies

kavksatyanarayana (subregistrar/supdt.(retired)) 01 February 2021

Whether it is an individual or a housing society? If housing society, the NOC is a must. If your father-in-law gifts you, you can get bank loan.

G.L.N. Prasad (Retired employee.) 02 February 2021

Contact a local advocate, preferably that bank advocate, if you wish to avail a finance, so that he can provide you a gift deed that is legally valid for availing finance and further transfer.