Queries

Siblings Can Take Joint Home Loan With Parents Lolit Saikia My brother and I are working and settled in Kolkata and Mumbai, respectively. We have a single-storey ancestral house in Guwahati, where our parents (both retired) live. We both want to settle down in our hometown after our retirement. Can both of us take a joint home loan to reconstruct the house now, or after the demise of both our parents, as our father has made the two of us the joint owners of the property in the event of death of both of our parents? Yes. You two can take a joint home loan for reconstructing the house with the legal owners (your father and mother) as co-applicants, if you want to take the loan while they are still alive. If you want to take the loan after the lifetime of your parents, you can do it once you two are legally the joint owners of the property. Do note that you will be eligible to take a loan...