• Property Rights

Dear Learned,

I am widow with a part time Job, I have a unmarried adult daughter and a son. Daughter being the elder and is working in an MNC.

I live with my Mother in Law, the house we live is built on an area of 2400 Sq.ft and is in the name of my Mother in Law. My husband was the only child in his family and my father in law died earlier to my husband.

Now for expansion of this house, me and my daughter are applying for a loan with LIC Housing Finance, since my daughter is only having eligible income to apply for loan.

My Query is as follows,

1. My wish is to split the house as 2/3 to my son and 1/3 for my daughter. But I wanted to know, how i can ensure this split of property, if my daughter becomes a co-applicant for the loan
2. What are my legal option available for me before entering loan agreement to ensure such split?
3. Is there a possibility to execute some contract before entering the loan agreement to ensure such split?
Asked 3 months ago in Property Law
Religion: Hindu

2 answers received in 10 minutes.

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8 Answers

Dear Madam

1. It is best you execute a will or a gift deed granting 2/3rd of the house to the son and 1/3rd to the daughter. 

2. You may also execute a contract (however it is not mandatory) if you are opting for a gift deed 

Thank you

God Bless 

Anik Miu
Advocate, Bangalore
2499 Answers
26 Consultations

4.9 on 5.0

Since house is standing in your mother in law name she can execute will bequeathing property to your son and daughter in the pr option mentioned by you 


2) will should be attested by 2 witnesses 


3) registration of will is optional 


4) merely because daughter is co applicant for home loan does not imply that she has 50 per cent share in the house 


5) no need to enter into any contract 

Ajay Sethi
Advocate, Mumbai
84070 Answers
5480 Consultations

5.0 on 5.0

All the family members have to be co-applicant to the loan with daughter as principal borrower. Any division of property can be effected only after successfully closing the loan. Pending outstanding, bank will not allow any division of property. You can think in terms of division only after repayment.  

Ravi Shinde
Advocate, Hyderabad
1441 Answers
16 Consultations

5.0 on 5.0

1.Dividing the property and standing as a co appkicant has no relevance. Any family member can be a co appkicant

2. Get a partition agreement registered.

3. Partition deed



High Court of Madras 

Rajaganapathy Ganesan
Advocate, Chennai
2001 Answers
8 Consultations

4.9 on 5.0

You say that the house is in the name of your mother-in-law. She has to transfer the entire property first in favour of your daughter by means of a gift deed or a settlement deed. Only then shall your daughter acquire any legal title over it.  After it is done, your daughter may very well raise a loan from any financial institution. If you desire for a split between your son and daughter, your mother in-law has to execute the gift or settlement deed in their favour likewise clearly mentioning therein the percentage of the share of each. In such an event, your son and daughter shall be legally entitled to an undivided share each in the percentage stated in the gift or settlement deed. Then they may raise a loan jointly from any financial institution.

Swaminathan Neelakantan
Advocate, Coimbatore
870 Answers
17 Consultations

4.9 on 5.0

1. If the said house is in the name of your mother in law, then being the owner of the property she can execute gift deed of that portion to your son and daughter during her life time .

- Further they can apply for getting the loan after becoming the owner of the property 

- Further, she can also write a WILL in their name in the presence of two witnesses as well. 

2. They can become the co-applicant in the loan agreement

Mohammed Shahzad
Advocate, Delhi
7982 Answers
85 Consultations

5.0 on 5.0

1. The property is on the name of your mother in law.

In that case you cannot take any decision to partition the property during her lifetime until she transfers this property in favor of your son and daughter as per the proportion you suggest, by executing a registered  gift settlement deed. 

Thus, you my have to wait for the transfer of the property to their names s suggested by you and then divide the property between them by a partition deed with proper demarcation of boundaries,  if it remains undivided 

After that she can apply for loan along with your son  who both are the shareholders.

2. Red the above answer which explains this question too.

3. No such contract or agreement would be maintainable especially if your children are yet to become absolute owners with legally valid title to their respective shares in the  property, this it is essential that the property has to be partitioned and transferred to their names.


T Kalaiselvan
Advocate, Vellore
74174 Answers
1203 Consultations

5.0 on 5.0

1. i am not able to understand how you can split the house in whatever ratio between your son and daughter, when the owner of the house is your MIL

2. So i am presuming that the split which you refer to pertains to the construction which will be made on the existing house

3. i am also assuming that your MIL has given her NOC for the above construction

4. the split which you want can be recorded in an agreement which will be a deed of partition

5. thereafter separate transfer deeds can be made in favour of the son and daughter of the carved out areas corresponding to the split shares so that the transferee son and daughter get a valid legal title over the same 

6. the agreement can be made prior to the loan agreement and the transfer deed can be made once the additional construction is made and specific areas carved out as per the required split

7. i presume that your daughter has no objection for transfer of 2/3rd area to the son, as it you and your daughter who would be repaying the loan and not the son

Yusuf Rampurawala
Advocate, Mumbai
6435 Answers
54 Consultations

5.0 on 5.0

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