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Ownership of house

This query is : Resolved 
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(Querist)
24 October 2007 Hi,

I have purchase a house, wherein the first name is of my mother and second name is of mine. All the money has been paid from my mothers account. In this case I would like to know, would I be considered as the co owner?
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S.RAVICHANDRAN

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S.RAVICHANDRAN (Expert)
25 October 2007 Yes. Either the first or second name should be that of the co-owner.
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kumar arumugam

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kumar arumugam (Expert)
01 November 2007 you are a co-owner of the property.
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Samir

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Samir (Querist)
10 January 2008 IN THE ABOCE CASE I WOULD LIKE TO KNOW IF THE HOUSING LOAN IS CONCERNED CAN I CLIAM THE ENTIRE INTEREST ON HOUSING LOAN FROM MY INCOME AS THE SAME IS PAID FROM MY ACCOUNT
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kartik_somu

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kartik_somu (Expert)
19 March 2008 Deduction of interest on Housing loan is based on accrual basis.
Whether u have paid it or not is irrelevant.
As per the agreement what is your share.
To that extent you will be eligible for interest on housing loan and calim deduction.
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