Solidarity housing loan: should I take out a solidarity housing loan with my brother?

My brother wants to buy an expensive house but cannot afford a big mortgage. Since he cannot pay the EMI home loan, he wants me to take out a solidarity loan and share the financial burden. My parents also insist that I help him. Should I take the home loan with him? – Vikrant Manohar

It is important to understand all the implications of a joint loan with your sibling. If your brother is unable to provide the IMEs or repay the loan, you will be fully responsible for repaying the loan as you will be the co-borrower. If you default on the loan, your credit score will also be affected and this can affect what loans you want to take out in the future for your own needs.

More importantly, the property can create a wedge between you and your sibling in case you want to split up or sell the property later. If you need the money or want to move to another city, but your brother doesn’t want to let go of the property, it can deteriorate the relationship and impact your finances as well as your goals.

So while it’s best to avoid taking out a joint loan, you’ll need to consider the ramifications before making the final decision. In case your sibling or parents insist, you should get a written airtight agreement in the presence of a lawyer. This should clearly list all of your concerns about the loan, repayment, and future disposition of the property in the way that works best for you. If your brother accepts this arrangement, and your finances allow you to pay the EMI, do not hesitate to take out the mortgage.

Can my husband throw me out of his parents’ house after I file for a divorce because of physical and emotional abuse on his part? – Sameera Verma

The Supreme Court, in a recent verdict, redefined the term “shared household”. According to the ruling, a victim of domestic violence cannot be evicted from the house in which she lived with her husband. It can be any house, whether the husband owns it or not, whether it is owned by his parents, or whether it is rented accommodation. So you have the legal right to stay in your in-laws’ house and your husband cannot fire you.

My grandfather owned ancestral property which is now taken over by my maternal uncle. My grandfather passed away in 2003. Can my mother claim this property? – Shilpa Singh

According to the Hindu Succession (Amendment) Act 2005, a daughter has the same rights as a son over ancestral property from birth. According to a recent Supreme Court ruling, it doesn’t matter whether the father is alive on September 9, 2005 for the daughter to have an equal right to the father’s ancestral property. Therefore, depending on the facts you listed, your mother will have an equal right to your grandfather’s ancestral property and she can claim it.

Disclaimer: Responses are based on limited facts provided by the queries. It is advisable to consult a lawyer after presenting all the facts and documents. The answers should not be taken as legal advice in any way.

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