Interest on loan as cost of flat
This query is : Resolved
03 May 2024
Please advise. I purchased a flat with another person for 30 lacs. Other person contributed 15 lacs, I paid 10 lacs and took a loan of 5 lacs over that flat and contributed. Now both contributed 15 lacs each. I am the one who is paying interest on loan. At the time of sale, can I claim this interest as my contribution in this flat and ask for more percentage?
03 May 2024
cost of funding does not change the percentage of ownership unless there is an agreement to that effect between parties.
03 May 2024
Please clarify. There is no agreement. In my opinion, I cannot claim interest as cost of flat as other party has nothing to do with this interest matter. It is my personal. Am I correct?
The cost will remain 30 lacs and not 30 lacs+ interest.
The cost will remain 30 lacs and not 30 lacs+ interest.
03 May 2024
yes. how you fund an investment has nothing to with the percentage of ownership.
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