1) your father can execute gift deed in your favour for 50 per share in property

2) then apply for bank loan in joint names

3)your father can execute will bequeathing his share in property to you by will

4) will should be attested by 2 witnesses

5) your sister shall on your father demise intestate have equal share in property

You can take a loan from the bank even if the property is in your father's name. In that case you can either take personal loan for certain amount or you can take home improvement loan as a co-applicant with your father. The eligibility for the loan will be particularly depend on the amount of loan you will need and also the bank requirements. I am giving you a general list of documents you would require, rest the bank would be able to guide you further depending on the need and present circumstances.

Generally, you would need following documents:

1. Identity Proof: Aadhar Card, Voter's ID card, Driving License, valid passport.

2. Proof of Income: Your father's pension proof.

Your last three month's salary statement

Last six months bank statement.

Last ITR and Form -16.

3. Ancilliary documents: You would need your and your father's passport size pictures in case of home renovation loan. Cheques

4. Specific to Home improvement related documents:

All the original deeds of the house

Proof of no encumbrances on the property

An estimate for proposed work from an Architect / Civil Engineer.

Your second worry is about your sister claiming in the property. That would arise in the instant your father dies without a will. If he leaves a will in your name or equal distribution between you and your sister, then such question does not arise. You can also discuss this with your sister before you go for renovation and take a No Objection from your sister,

I hope this responds to your query, if there is any thing else feel free to get in touch.

Regards,

Richa Bharadwaja

Since this is your father's property, only your father can take a home loan against it.

If he's not being given a loan, that could be due to that fact of his ageing, you can be a Co applicant of loan with your father.

1. Since the loan is granted on mortgage of the proeprty, only the lawful owner of the proeprty can apply for loan so money can be disbursed on equitable mortgage of the proeprty.

2.In this case since you are neither the owner nor its co owner you are not eligible for any loan.

3. However if your father gift a share in the proeprty in your name making you co sharer of this proeprty you can apply for loan.

Hi

You will be certainly eligible for housing loan.

You should ask your father to write a small portion of his land in your name where you wish to construct the house.

The housing loan will be then allotted in your name.

Father can write s gift in your name to avoided stamp duty.

Bank will allow housing loan on a land where you construct a house.

Or else you can be a co applicant with your dad and apply for the loan

hi

1. you can only take loan on the property of which you are the owner.

2. you can apply by the name of your father with his consent.

3. yes your sister can claim for the property according to family laws after your investment

you can ask your sister to transfer her part of property to your name and can do the constructions

.

Dear query raiser - Please note that as your father is the absolute owner of the property you will not be eligible to get the Home loan in your name, you may become a Co-Applicant but you will not be eligible to get the TAx benefits of Home loan.

Also please note that in case of demise of your father without executing a specific will all his legal heirs will be having equal right over the property even your sister may claim her part.

Hi, you can obtain loan by keeping the property in collateral and your father can be the guarantor of the loan

you are entitled to get a bank loan for reconstruction of your home according to your salary. you have to apply jointly with your father where the property will remain mortgaged till repayment of loan and you will repay the loan. your sister's claim over the property will remain as it is irrespective of loan and your investment.

Sir

The bank or any financial institution will not give any home loan to you as the property is in the name of your father. If you require home loan you have get the property transfer to your name from your father. You can avail only personal loan. In that case the rate of interest is bit high.

As the property is in the name of your father and after his demise , his property will be devolve upon his legal heirs. The only thing that I suggest, you may ask your father to transfer either full/part of the property in your name or ask your father to register a family settlement deed in your favour.

Thanks

Since the property is in your fathers name than you are a legal heir of your father.You can avail a loan from the bank on the basis of your own documents. As you said that you are a salaried person than your bank statement and salary certificate will be required by the bank. Your income tax return proof will also be required by the bank. Any further criteria that will be required for the loan can be supplied by the bank and for which you are requested to contact the bank personal. Your sister being another legal heir of your father has equal right with you in your ancestral property. In such circumstances the best thing would be to obtain a registered gift deed from your father in your favour.

You have to get the property transferrred to your name by a registered deed to become eligible for home loan.

The property in your name shall entitle for home loan

If the property has been transferred to your name during yours father's lifetime, then your sister cannot claim any share in it as a right any time not only now but in the future too.

It is advised that your father relinquishes 50% of the share of property on your name and subsequently you may apply for a joint loan.

Since the loan is granted by most no. of banks on the name of the person on whose name the property happens to be therefore you will be eligible for loan only when 50% share of the property is in your name.

Even if the bank agrees to give you loan as co-applicant, your sister at a later stage might claim the share in the property.

Regards