Gifting property to children in india?



can i accept a property as a gift which is already in mortgage from my mother? i am not eligible for mortgage so i planned to pay a property with help of my parents.i will be paying the EMI and deposit amount.

Gifting property to children in india?
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4 Replies to “Gifting property to children in india?”

  1. Country of origin or residence doesn’t matter.
    The child must be 18yrs old.
    The ownership can be different than the borrower, however it is not advisable.
    Your mom could deed you the property (transfer ownership), however she would still be listed as a borrower and therefore have the same obligations and liability to her lender.
    The lender will still have a dominate lien position.
    The mortgage, most likely, has a due on sale clause, which means that the lender has the option of making the entire loan due whenever ownership is changed. As long as the payments are being made, they probably won’t call the note (make it all due), but you and your mom would be breaking the terms of a contract. If she filed bankruptcy or if something crazy happened, the property could be in jeopardy.
    There is probably a much better way to achieve the same goal. How about just renting the property from your mom and asking her to put the property in her will. You could cover all the expenses and still retain ownership if something were to happen to your mom.

    Ultimately to answer your question fully, we would probably need to have a discussion so I could get more information.

    I hope the info I shared gives you some sort of direction.
    Have a great day!


  2. Yes permitted.

    But the first charge is to the Mortgage Bank, only after full EMIs are settled, you will have clear title over the property.


  3. Its a better plan to gift for your baby.Before that you must take a advice from the real estate expert or any consultant.i will suggest you civitech, has a name in delhi ncr real estate and offers best deals real estate in ncr. We have properties delhi ncr, flats, apartments in delhi NCR. We have captured almost complete real estate delhi ncr market to serve as per our best.So best of luck






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