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Getting loan from parents property. Both Mother and Father have expired. We are 7 member (5 brother & 2 Sisters ) , property is in name of our parents. For emergency we require loan for treatment for my brother. Is possible to get loan then what are the step and document required. Please help me with solution

  • Please add a country tag. Does their will pass the property to the 7 of you? If not, does your country have a process to change ownership once the owners have died? Right now, how can you take a loan when you don't own anything? – JTP - Apologise to Monica Oct 18 '14 at 3:34
  • From Bangalore, INDIA – suresh Oct 18 '14 at 3:41
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Whoever actually owns the property can use it as collateral for a loan. So the first thing you need to do is get the ownership legally determined. Then you can ask a bank how much they would be willing to loan you against that property.

Unfortunately, emergency need is not something the bank is likely to consider when making their decision.

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