I want to gift a property to my sibling

[Anikafalcon485]

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Anikafalcon485
PARTICIPANT
March 25, 2025 at 12:05 pm

Hi, I want to gift a house to my sibling. In exchange of ancestral land right I want to buy a house in my sibling’s name using home loan but the loan will be in my name and I pay the loan EMIs. Can i do this? The house needs to be registered in my sibling’s name but the liability to pay back the loan should be me alone.

After closing the loan I can transfer the property but thats not what I’m looking for.

Any ideas??

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[Alphabro1965]

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Alphabro1965
PARTICIPANT
March 26, 2025 at 4:16 am

Firstly, if there is a quid pro quo involved, it is not considered a gift for tax purposes.

I would never suggest going for an arrangement like this. Too many potential headaches can arise in the future.

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[Anikafalcon485]

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Anikafalcon485
OP
March 28, 2025 at 7:29 am

What do you think is a best option then? I don’t have lumpsum amounts to settle the it.

Taking personal loan also will not work for me.

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