Can I take home loan on my wife land?

You can buy a home in your wife’s name to save money or apply for a joint home loan as co-owners of the property and share the repayment obligation too. Take a look at the benefits that you get when you buy a home in your wife’s name or with your wife jointly.

Can you transfer a house loan to someone else?

You can transfer a mortgage to another person if the terms of your mortgage say that it is “assumable.” If you have an assumable mortgage, the new borrower can pay a flat fee to take over the existing mortgage and become responsible for payment. But they’ll still typically need to qualify for the loan with your lender.

Can a house be registered in two names?

a) The land can be registered in more than one name. In case it is registered in your name as well as in your wife’s name, you will be considered the owner of the property because the funds for the purchase of the property have emanated from you.

Who is legal heir of wife?

Jajoo says, “Class-I heirs of a married woman are: sons and daughters (including children of any pre-deceased son or daughter) and husband. However, do keep in mind that wife of the pre-deceased son and husband of pre-deceased daughter will not be considered as legal heirs for such properties of a married woman.”

Can a husband and wife apply for a home loan together?

This applies vice-versa where husband and wife are co-owners of house property and also co-applicants of Home Loan, but all the repayments are done by wife alone. Any interest payment to friends and relatives in respect to capital borrowed from them can be claimed u/s 24b, but only against a certificate received from them.

Can a husband claim ownership of a property bought in wife’s name?

Yes, husband can claim ownership of property bought in wife’s name provided the funds used for buying the property is from known sources and legal. Can spouse be on title but not loan?

Can a husband claim home loan on his tax return?

If the husband is the only person repaying the loan, then he can claim the entire tax benefit for himself (provided he is an owner or co-owner). Both the spouse should enter into a simple agreement where wife should be stating that husband will be repaying the entire loan.

Can a spouse be on the mortgage but not on the title?

So, if only your spouse is on a mortgage, you are not necessarily on the title, automatically or otherwise. You may, however, be on the title, but not on the loan as you’ll see below. If only your spouse is on the title, how can you be added?