Legal Question in Intellectual Property in India

my mother have 20,000 sq. ft area of land in mangalore and she is ready to give me and my elder brother 10,000 sq ft. of land out of the total land. myself and my brother wants to build a home on that piece of land, but i want my mother also to be the co-owner of that house (She is not earning), me and my brother will jointly finance the house. Is it possible?? and how?? please


Asked on 3/16/13, 8:04 am

4 Answers from Attorneys

Fca Prashant Chavan Expert Edge LLP

16.03.2013

Dear Sir,

You can get a home loan by the mortgage of the land to the bank as security.

Regards,

FCA Prashant Chavan

Mumbai

(You can also mail me for any further on-line advice at [email protected])

Read more
Answered on 3/16/13, 8:17 am

Agree with Mr.Gupta

Read more
Answered on 3/17/13, 1:59 am
Jayesh Desai Jayesh Desai

Yes, it is possible. Divide the property after construction and keep mothers' name along with each brother; independently.

Read more
Answered on 3/18/13, 11:00 pm


Related Questions & Answers

More Intellectual Property questions and answers in India