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Remove minors name as co-owner for an under construction property to apply for 30% home loan

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Remove minors name as co-owner for an under construction property to apply for 30% home loan

Last updated: January 9 2020
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  • Remove minors name as co-owner for an under construction property to apply for 30% home loan

    We booked and registered a flat in Mumbai. Now due to change in circumstances, we want to apply for a home loan for remaining 30% of home loan. 70% already paid to builders. However, Banks are saying that with a minor as co-owner we cannot take a home loan and that we need to remove the minor's name before we can apply for loan.

    Can anyone suggest the procedure, time and cost to remove minor's name from the registered property in flat so that we can apply for loan. Thanks.
    Last edited January 9 2020, 06:00 AM.
  • #2

    #2

    Re : Remove minors name as co-owner for an under construction property to apply for 30% home loan

    Originally posted by raoaasha View Post
    We booked and registered a flat in Mumbai. Now due to change in circumstances, we want to apply for a home loan for remaining 30% of home loan. 70% already paid to builders. However, Banks are saying that with a minor as co-owner we cannot take a home loan and that we need to remove the minor's name before we can apply for loan.

    Can anyone suggest the procedure, time and cost to remove minor's name from the registered property in flat so that we can apply for loan. Thanks.
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