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. :)
30 May 2016
No its not possible to get home loan if you are not owner of the property.
16 October 2021
Possible, if you are joint holder in the property.
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