Queries on house purchase transaction
This query is : Resolved
30 May 2016
Hii all,
Please help on following queries..
Situation: My Uncle is planning to buy a property at Nagpur. I am planning to support him financially by extending a bank Home loan on the same. In relation to this proposal, my queries are:
1. Whether it is possible to apply for home loan for a property which will not be in my Name?
2. We don't want to get the Sale deed registered as it will save our Rs. 2 Lakhs. Property is legal and Society share transfer would be done with proper documents. Whether this would be a hindrance for applying home loan?
Your assistance would help in taking correct decision. Thanks. :)
Please help on following queries..
Situation: My Uncle is planning to buy a property at Nagpur. I am planning to support him financially by extending a bank Home loan on the same. In relation to this proposal, my queries are:
1. Whether it is possible to apply for home loan for a property which will not be in my Name?
2. We don't want to get the Sale deed registered as it will save our Rs. 2 Lakhs. Property is legal and Society share transfer would be done with proper documents. Whether this would be a hindrance for applying home loan?
Your assistance would help in taking correct decision. Thanks. :)
CA Rohit Jain
(Expert)
30 May 2016
No its not possible to get home loan if you are not owner of the property.
Dhirajlal Rambhia
(Expert)
16 October 2021
Possible, if you are joint holder in the property.
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