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Right to claim refund of property constructed by me
15-Aug-2023 (In Property Law)
I am Hindu by region. My parents bought a plot 2 years back and i also paid around 20 % in that plot. Soon after 1 year we started developing it. We built a 2bhk on this plot i spent 40 % of money to built the house. Currently i am living in that house and my parents are living separately. My parent does job in govt sector and i have my private business. Me and my mother jointly applied for loan and we got loan for construction. I am co borrower in this loan. This plot is registered on my mothers name. Only i built this house by loan loan money and my money no body came to see construction. Now my mother want to build other story for my brother. I dont want that because i do not have good relation with him. I asked them to return my money i spent on the construction but my parents are refusing to do that. Please suggest me.
You may file suit for partition of that case.. You have remedy to climb your share out of house in question. You have absolutely right in said house. As the loan is on your name as co-borrower so this property can not be sad sole property of your mother. You have to file suit for partition.
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Adv. Jagan Nath Bhandari
Chandigarh | 200+ Answers
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Can I get home loan on my fathers property?
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.
Can I claim home loan on parents property?
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. 04-Oct-2021
Can I take home loan on my uncle property?
You cannot get a loan for a property that is not registered if its a second home. Before you can apply for a home loan, the registration process must be completed.
Can I take home loan if property is not in my name?
A co-owner can request a Home Loan. However, in this case, the co-owner will be the primary owner of the home. You can apply for a Home Loan jointly. Two co-owners may apply for a loan together.
We need papers of loan and other documents, we need complete events and dated for the same. Also loan papers other details etc. Pls visit with same. You may also file suit and get stay orders for the said property.
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Adv. Sunil Kumar Mallan
Chandigarh | 25+ Answers
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From your query, it is not clear that whether your parents tried to oust you from house. Anyway, as far as right of your mother to construct another floor is concerned, same cannot be restrained since she is owner of property. But certainly, you have a right to save your possession, if you are being evicted, and if you want to get your construction cost back as you got loan along with your mother, your loan details are required to be checked that who is principle loanee and what are terms to repay it and what are liabilities of paying it back, before advising you for recovery.
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Adv. Deepak Verma
Chandigarh | 100+ Answers
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Disclaimer: The above query and its response is NOT a legal opinion in any way whatsoever as this is based on the information shared by the person posting the query at lawrato.com and has been responded by one of the Divorce Lawyers at lawrato.com to address the specific facts and details.
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