Is it possible to obtain loan on a property acquired from my father? Can my children object?



I own a property that used to belong to my grandfather and later my brother, my brother gifted me the property and now want to obtain a loan from a bank. Is the approval of my children necessary to get the loan from the bank? If I do without their approval, can they file a case against me?
Sorry, I made a mistake in the details, the property belonged to my father not my grandfather.

6 Replies to “Is it possible to obtain loan on a property acquired from my father? Can my children object?”

  1. Unless they own a legal interest in the property, they can’t legally object.

    They are not your heirs until you are dead.


  2. As the property was gifted by your brother you will absolute rights over the property and your children cannot object to it. First of all let me get clarified if the grand father you mentioned is directly related to u or not.



  3. Title of the immovable property gives full & unlimited right to the person to use the immovable property as he/she wish to do. He/she can dispose off the said property anytime during his/her lifetime or by Will/Testamentary document after his/her death. He/she can mortgage the property to anyone for any purpose & period of time as he/she wish to do.

    In your case the said property was transferred to you by your brother through gift deed which was duly registered & the title of the property was transferred in your name. This became your self acquired property irrespective its origin, which was from your grand father.
    Had this property remained unpartitioned till date i.e. its title were in your grand father’s name only & thus become the Hindu ancestral family property by its use than it being four generation old could have given Hindu Copacenary right to your children (sons & daughters) but as there was regular change of title from your grand father up to you through other holders & owners of the property the Rule/Law of Hindu Copacenary property as in the Mitakshara Hindu Family shall not apply in the case.

    No approval of your children required for any purpose with regard to this property. As far filling case against you is concerned if they get hold of some foolish lawyer they can do it under his guidance but that case will have no standing in the court of law.


  4. While anonymity in an open forum like this is desirable per se, it should not be at the cost of suppression of relevant details which would mar the chance of a a pointed reply. This question is one.
    The relevant details needed are:
    1.The country where the property is situated as well as the province.
    2. Religion of the questioner.
    3.Gender of the questioner
    4. Nature of property: agricultural or residential/commercial/industrial
    5.How the property was acquired by the original owner, whether from out of his own earnings or any part of the joint family property was applied.
    6.How the brother ‘acquired’ it later on; whether by testamentary succession (by a will)or by operation of law then in force.
    7.How the ‘gift’ was made; whether by a deed registered duly.
    With all the above and a host of supplementaries that may arise by answers to them being in the penumbral region, the following assumptions are made:
    That the property was acquired by the ‘father’ out of his own resources.That the religion was Hindu. That no amendment to Hindu Succession Act by the State was in operation at the time of death of the father. That the ‘acquisition’ by the ‘brother’ was before 2005. That there were no other children but two including you. That the ‘father’s mother’ and your mother were not alive at the time of death.That he had left a ‘will’ bequeathing the property to his son after his lifetime. Alternatively the property was ‘gifted’ by the father during his lifetime by a registered gift deed. That again a gift deed was registered by your brother in your favour. That the property is non-agricultual.
    With all the assumptions being in place, the position emerges that you have ‘acquired’ the property, not as a legal heir of your father but as a ‘donee’ of your brother. Hence you have exclusive title over the property. None else including your wards can claim any title as of right. You have right to alienate the same in any manner you like. Specifically mortgaging the property to a bank, as you seem to desire.
    There is a rider. If your brother, succeeded to the property through a ‘will’, then the nature of the property becomes ‘ancestral’ as far as the children of your brother are concerned. To this extent, he had no absolute right of ‘alienation’ depriving them of their legitimate share, except by an order of a competent court of law. To this extent, your own title would get affected by the extent of share of the children of your brother.
    Anyhow the bank’s legal advisor would look into these aspects when you apply for a loan to the bank.






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