I would like to know on the latest update on the B Khata property for home loan.
My father-in- law who is 78 yrs old owns independent house which is under B khata and his son i.e.my husband and I are planning to demolish and reconstruct the house. He is the 5th Son to his family with 2 Elder Brother and 2 elder sisters who are married and settled independently. Parents are with us. Please brief on B Khata clause and documents if required to transfer the property on my Husband's name or is it possible to retain the property on father-in-laws name to get bank loan.
Please need your suggestions.
1 Answers
Hi,
Is this an ancestral property?
As property is in your Father-in-law's name, mostly bankers will ask him to be a co-borrower along with your spouse.
Is he going to Gift the property only to your husband? Does the property has BWSSB connection? Has the property taxes been paid?
Kindly go through below articles, can be useful to you;
http://www.relakhs.com/real-estate-property-transfer-deed-types/
http://www.relakhs.com/gift-income-tax-rules-detailed-guide/
http://www.relakhs.com/khatha-registration-transfer-in-bangalore/
http://www.relakhs.com/mutation-property-transfer-title-records/
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