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About overtaking mothers home loan on my name
20-Jun-2023 (In Property Law)
Hello,
My mother had brought a home back in 2017 on a bank loan of INR 1200000.
I would like to know that if there any way I can overtake the bank loan on my name?
Does she need to make me co-owner? Please let me know how she can make me co-owner. (not looking for whole ownership).
(Note: I don't have any brother..I have one married sister.)
Also, can she make a will before the loan gets nilled?
This is all to make sure that my sister or her husband will not claim property share.
Also, as I'm paying all the loan which is 35% of the purchased value, I don't want injustice even if the will is cancelled .
Any help in this direction is greatly appreciated.
Thank you!
This is my response to you:
1. Ask her to make a Will in your favour;
2. You will need to add those specific clauses so that you get full owner;
3. Also register that Will;
4. Consult a local lawyer and take steps.
1. Ask her to make a Will in your favour;
2. You will need to add those specific clauses so that you get full owner;
3. Also register that Will;
4. Consult a local lawyer and take steps.
Helpful?
Adv. Gowaal Padavi
Mumbai | 500+ Answers
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