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Can i Loan against property owned by my father having age 68 years old
01-Mar-2023 (In Property Law)
Can i apply for loan against property owned by my father.. my father age is 67 years old. He is still earning and working in a private company with monthly earnings 30000 ..i am also earning and working in MNC.. i am the only son in my family
Yes you can take loan only if your father gives his consent to be mortgage his property against your loan as sureity. Otherwise not.
you only can take without your fathers consent against the earning which you take from your company. it is immeterial that your father is of very old age and you are his only son.
you only can take without your fathers consent against the earning which you take from your company. it is immeterial that your father is of very old age and you are his only son.
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Adv. Anand Bali
Delhi | 100+ Answers
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Can I take home loan if property is on my father name?
You can obtain a loan for your fathers home if he agrees to co-apply or be a guarantor. The lender will take into account the market value of the property, the borrowers income and creditworthiness when determining eligibility for a loan and the interest rate. 18 Dec 2020
Before applying for a home loan, you must obtain a signed No-objection certificate from all legal heirs if the property is ancestral. If the property is owned by your mother, she must be co-applicant for the loan.
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Adv. Chikirsha Mohanty
Delhi | 200+ AnswersCONTACT NOW
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