I have a question about property documents related to joint property. we have a single house divided among me and my brother and there was a partition deed done. now the question arises that who should be having the original link documents for that property as the document would only be one. and in future if my brother sells out his portion of the house and if he gives original link documents then i would face a issue which going for a home loan for construction of my portion as i will not have the original link documents for my property. please assist on how to go about the same.
Hi, Here are the detail information of your query. Click on the link, http://epaper.timesofindia.com/Repository/ml.asp?Ref=VE9JQkcvMjAxMy8wNi8xNCNBcjA0NjAw&Mode=HTML
And remember, if anyone of you are taking home loan from banks then banks will ask the permission of your brother and your brother has to sign on the deed bcz you both have the equal rights in the property.
Hi Naveen, Joint tenancy is a form of co-ownership where property is owned by two or more persons at the same time in equal shares. A mortgage lender will not make a loan to one of the owners unless both owners sign the mortgage (deed of trust) documents. He couldn't sell his portion of house without your permission because you both have the equal rights.