Should You Really Buy Property Jointly with Your Parents?

In India, buying property along with your parents isn’t unusual. Sometimes it’s about emotion—wanting to keep things in the family. Other times, it’s just practical. For example, maybe your parents helped you with the down payment, or maybe you needed their income added to yours to get a bigger home loan.

Home Loan Reality Check

Let’s say you’re the one paying the EMIs every month. You might assume the house is all yours. But if your parents are co-owners and their share isn’t clearly mentioned in the paperwork, the law sees both of you as equal owners. That’s right—50-50.

So even if they didn’t put in half the money, without a proper agreement or sale deed specifying the split, they legally own half. It’s not about fairness; it’s about documentation.

When Ownership Gets Complicated

Here’s something most people don’t think about. Your parents’ share in the property? That’s legally their self-acquired property—which means they can do whatever they want with it. They can pass it on to someone else in their Will.

But if they don’t leave a Will? Then things can get a bit messy. Their share will be divided according to inheritance laws, which differ based on religion. And yes, other legal heirs (like siblings) might be involved.

What If You Want to Sell Later?

Here’s where joint ownership can turn tricky. You can't sell the property unless everyone on the title agrees. If your parents have a change of heart or you don’t see eye to eye on the timing or the price, the sale can come to a grinding halt.

So if you’re thinking “We’ll just sell it in a few years”—make sure that conversation happens early and clearly.

By LNN (Liyaans News Network)