Home loan Borrower died and EMI paying legal heir

This query is : Resolved

Kumar PRATAP (Querist)
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14 July 2023 Hi Experts,

I have situation regarding home loan which was take by of my client and unfortunately she died :(.

Now her legal heir, her husband agreed to pay the EMI to the bank and continue to pay the same.

Now my query is will he able to claim housing loan interest as he is the paying the EMI on monthly

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
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14 July 2023 Yes, if bank gives consent to the loan transfer in the name of her husband.

Kumar PRATAP

Kumar PRATAP (Querist)
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14 July 2023 But Loan still under her name only and Bank ok to get the payment from her Husband.

Bank not able to transfer loan amount to her husband due to big amount hence asked him pay EMI under her name as he is the legal heir. In this case still he can calim?

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Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
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14 July 2023 No. He is paying on behalf of his wife. He is not borrower of the loan.

Kumar PRATAP

Kumar PRATAP (Querist)
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14 July 2023 But his wife no more right, still he is not eligible to claim ?

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
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14 July 2023 Loan taken by wife. So, when wife dies, legally loan gets closed.
If nominee pays her EMI, it is on her behalf. So, nominee is not lone taker, but just care-taker.
If bank transfers the ownership of the loan in favor of husband..... then only he can claim any exemption.