Question
Can I purchase my fathers house by taking Housing loan?
I am an Indian resident & I want to purchase my fathers own house by availing Housing loan. Do banks approve such home loans. Is there any legal obligations in future. Please Advice.
1 month ago - 4 answers
Best Answer
Chosen by Asker
It is not possible to avail housing loan to purchase your fathers house. Housing loan carries certain benefits in IT exemptions. So for the internal flow of funds it is not permitted. on the other hand if you are desperate to raise funds you can avail mortgage loan at 12.5% rate and it does not carry IT benefits.
1 month ago
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Other Answers
just ask him to give it to you
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