Yes, immovable property can be registered in two names.
When we consider joint ownership, we often think of immediate family members such as spouses, parents, or children. However, property can also be jointly purchased with extended family members, business partners, or even friends. In the real estate industry, this is commonly referred to as co-ownership or joint ownership.
WHY CONSIDER CO-OWNERSHIP?
Co-ownership can make property ownership more accessible and financially manageable. By sharing ownership, individuals can split major costs, thereby reducing the financial burden on each person.
Key Expenses That Can Be Shared:
- Down payment
- Monthly EMI (Equated Monthly Installment)
- Home interiors and renovation
- Stamp duty and registration charges
- Property tax payments
Each co-owner’s name will appear on the Sale Deed during registration. Typically, all co-owners are also included in the home loan application. However, in the case of spouses, it is possible that only one partner is listed on the home loan while both are named as property owners.
REAL-WORLD EXAMPLE
One of our clients, a husband and wife, recently purchased a residential property in Bangalore. Both names were included in the Sale Deed, with an equal ownership ratio of 50:50. Highlighted the ownership in below sale deed for your reference
- The husband contributed 50% of the property cost through direct payment (without a home loan).
- The wife financed her 50% through a home loan. The loan application and disbursement cheque clearly mention only the wife’s name as the applicant. The husband was not included in the home loan process. Refer to below cheque
This equitable investment helped them purchase their dream home. Notably, both were first-time home buyers, and this joint ownership allowed them to maximize benefits such as income tax deductions, especially since the wife is a working professional.
Such 50:50 investment strategies are increasingly common in households with dual incomes and reflect modern approaches to financial planning and shared responsibility.
NEED ASSISTANCE?
We provide end-to-end support for property registrations involving multiple owners.
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