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TMI BlogKarta - Mortgage loanX X X X Extracts X X X X X X X X Extracts X X X X ..... Karta - Mortgage loan X X X X Extracts X X X X X X X X Extracts X X X X ..... REVERRSE MORTGAGGE LOAN? Reply By Ravi Chopra: The Reply: If the karta of HUF is the owner of the house property, than yes, he can get the reverse mortgage loan. Reply By Surender Gupta: The Reply: ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... I think no. In TMI commentaries you would find the scheme of two banks SBI and National Housing Bank for your kind reference. We have seen the scheme of other banks also. They need the clear title of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the property. In case of property of HUF, you do not have the clear title of the property. In addition to this, you can also visit the notification no. 93/2008 - Income Tax which notifies the "reverse ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... mortgage scheme" scheme. Para (3) of the scheme is read as: 3(1) Any eligible person may enter into a reverse mortgage transaction by applying in writing to the approved lending institution, if the c ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... apital asset, being mortgaged, is (i) owned by him; and (ii) free from any encumbrances. Therefore, I believe that it is difficult to get the RML on HUF property. However, if you get the HUF transferr ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ed in your name, yes you can get RML. X X X X Extracts X X X X X X X X Extracts X X X X
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