Availing Home Loan

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  1. Prasad10

    Prasad10 New Member


    I want to buy a property (an apartment) along with my brother in law. However, we even want to avail a home loan since we want to share the property rights and also add-up our income for the loan.

    What I was told that I cannot avail a home loan with a co-applicant who is not in blood relation. And rather suggested to get he co-applicant to be my sister along with my brother in law and once the agreement is registered and loan disbursed get a 'Gift deed' made from my sister to me transferring her share of rights on mine. But, I think the deed also needs to be registered.

    Can you'll pls guide me if all of this is legitimate and plausible or is there a viable way to do this. Only purpose of doing this being we want to invest into property at a good locality where the ticket size of 1 unit can only be bought by sharing our incomes.

    Thank You.

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