Taking a Home Loan to Buy Property from Father-in-Law – Any Legal Issues?

[User_968a19d3]

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User_968a19d3
PARTICIPANT
February 10, 2025 at 4:18 pm

I am planning to buy a house from my father-in-law at market value through a fair and legal transaction. There is no benami arrangement or tax evasion involved—just a standard property purchase. I intend to take a home loan for this. Are there any legal issues or restrictions in India when taking a loan to buy property from a relative by marriage?

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[Ashishmaster940]

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Ashishmaster940
PARTICIPANT
February 10, 2025 at 6:54 pm

None 

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[User_968a19d3]

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User_968a19d3
OP
February 11, 2025 at 4:44 am

Thank you for your response. But one executive I spoke to at the bank said don’t mention the relation with the seller as bank may see it as fraud and reject the loan application. That’s why I’m confused

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[Ashishmaster940]

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Ashishmaster940
PARTICIPANT
February 11, 2025 at 4:52 am

why mention the relationship? Sale deed never has a clause of relationship.

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[User_968a19d3]

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User_968a19d3
OP
February 11, 2025 at 5:01 am

It was because the seller and the co applicant (my wife) will have the same address. I’m okay with applying the loan in my name alone without a co applicant, but still wanted to check if there’s any legal issues

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[Ashishmaster940]

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Ashishmaster940
PARTICIPANT
February 15, 2025 at 8:05 pm

Why your wife is not having the address same as yours?

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