It is possible to claim the deduction. The deduction will be available to the real owner of the property and that can be proved from the records of payment. You will have to show that the payment is made from your bank account and that you are the real owner of the property and hence all the deduction be allowed to you, being the true and real owner of the property.
It would be much much better if co-ownership is possible.
Same also applies in case of capital gain. I have been adamant on my this view since years and in my parents' case also I did the same. I received the notice and gave all the explanations and the exemption was allowed.
[Well, It is important that AO is also a like-minded individual.]
Your call.