banner_ad

Bank loan on property in name of mother

This query is : Resolved 
Profile Image

Profile Image

(Querist)
01 May 2014 Dear all
can i take a bank loan on property which in name of my mother.
can she by POA may authorise me to take bank loan OR is she required to transfer that property in my own name.

please reply early
Profile Image

CA SURENDRA KUMAR RAKHECHA

Profile Image

CA SURENDRA KUMAR RAKHECHA (Expert)
01 May 2014 Assuming that she doesn't have taxable income, it would be difficult to take loan on that property by you (even jointly with her).
.
.
The logic : If it could happen; anyone would be able to pledge the property of another and take a loan thereon.
.
Profile Image

CA SURENDRA KUMAR RAKHECHA

Profile Image

CA SURENDRA KUMAR RAKHECHA (Expert)
01 May 2014 .
However, if you wish to take a BUSINESS LOAN and mother is made as a GUARANTOR, then it may be helpful to get the loan from a bank.
.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now


CCI Pro
Join CAclubindia WhatsApp Finance Community & stay updated with the latest TAX news, compliance alerts and important updates all in one place!


Similar Resolved Queries


loading


Unanswered Queries


banner

Trending Online Classes

view all classess

CCI Pro
Meet our CAclubindia PRO Members
Subscribe Now

Follow us
add to google news



Answer Query



Quick Links



Browse by Category




Latest Job Openings

View all
Company
18 May 2026
MIS Executive

Primarc Pecan Retail Limited

Mumbai

B.Com

View Details
Company
07 May 2026
CA Assistant

amit desai and co

Mumbai

CA Final

View Details
Company
Featured 02 May 2026
Senior Executive

hitesh chandwani & co

Pune

B.Com

View Details
Company
Featured 27 May 2026
Lead Conversion Executive / Sales Closing Executive

SMJ global advisors pvt ltd

New Delhi

B.Com

View Details
Company
16 May 2026
Audit clerk

mgirt & co

Bengaluru

CA Inter

View Details
Company
14 May 2026
ICSI Trainees for 21 Months and Semi-Qualified CS

CMNITY HIRE

New Delhi

Others

View Details
Company
19 May 2026
Fundraising Expert

MentorsWorld Ventures Private Limited

Ahmedabad

Others

View Details
Company
27 May 2026
Audit Assitant

Virender K Gupta and Co

New Delhi

B.Com

View Details