According to the Transfer of Property Act every joint or co-owner has a proprietary right of the entire property. Hence, any sale has to be done with the consent of all co-owners involved. If, however there are specific conditions in the agreement that gives co-owners exclusive rights to certain parts/portions of the property, a co-owner can sell his portion to whom he chooses.

Sanjay and Mughda were a happily married couple before some unfortunate circumstances forced them to separate. They co-owned a house and Sanjay insisting on dividing all the things between the two, got hold of a lawyer to handle his claim. The lawyer, after feeding some legal mumbo jumbo to her, convinced Mughda that she did not have a stake in the house. Little did she know that she had equal rights to the house! All this, because of Mughda’s ignorance about the rights of a co-owner.

Who is the co-owner of a property?

Co-ownership or Joint ownership simply put is when two or more persons hold title to the same property.

What are the types of co-ownership?

Tenants in Common — When two or more people buy a property but do not specifically mention the share that each has in the property, a ‘tenancy-in-common’ is said to exist. All the

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A long term loan like a home loan is a debt that is part of your budget every month. If you invest too much into it, there might not be adequate funds to manage a huge list of other expenses that will tend to accumulate with time. For eg. You need to make allowances for future expenses like education expenses for children, emergency funds for a job loss or the loss of one income in a situation where two people have taken a joint loan.

Did you ever wonder why your EMI is generally restricted to 30% or 40% of your monthly income? Here is why.Salary details, qualifications, employer/business, years of experience, growth prospects, alternate employment prospects and sources of other income, if any, all are aspects that determine the amount of loan you are eligible for.

Generally, the repayment schedule is worked out in a manner that allows not more than about 40% of your monthly gross income to be repaid as EMI. It is restricted to 30 % or  40% keeping the following factors in mind:

10% of your income is spent on other loans, if you have any or if you avail one in the future.

25% of your income gets deducted by way of statutory deductions and for investment purposes.

25% of your income is generally spent to meet your monthly expenses.

This leaves back 40%, which is taken as your repayment capacity for this loan.

For self-employed applicants, profit is the benchmark that determines loan value.

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You should know that the Obama administration reforms are essential for single mothers. There are elements of the Stimulus package that actually allow single mothers to finance their way through school without any unnecessary loans.

If you are experiencing difficulties at home and undecided in the direction your life should go because your financial situation is bleak and without direction, there is an option for you. By deciding to return to college, you can use a little part of billions of dollars in federal school grants provided by the federal government. And you will never have to repay this money.

You can find the abundance of resources, providing government grants for school or college education, but the mode of application should be accurate, so that the processing is hassle-free with greater scope for receiving the grant. Free grants for school offer a great way, empowering every eligible person with a right to education, thus adding to the international knowledge area.

You, like many people, appreciate quality time with your family, because this is the most important part of your day. Full Post…

It’s essential to grasp the workings of how to buy foreclosed homes, because when you see these properties featured on the Internet you’re bound to get excited about all the different investment opportunities available, but the danger is you can make a rash decision.

The great deals you’ll find are right across the country, and you can be just as inspired by the kind of Killeen foreclosures that you see as foreclosure properties in other parts of the country, such as Pittsburgh foreclosures. One of the first things the experts suggest is that you don’t get caught up in a bidding war. In several metropolitan parts of the nation, foreclosures are so numerous people are anxious to buy them and it’s easy for eager investors to touch off a bidding war.

The Pittsburgh foreclosures situation is a prime example. Here the experts suggest if you’re looking to buy a home in that area, keep your wits about you and stay away from what’s been called a feeding frenzy of activity around some of these lower priced foreclosure homes.

When you’re considering all the different things you’ll need and the best techniques on how to buy foreclosed homes, it’s important that you keep in mind the lending institution you’re involved with. It’s imperative to ge

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