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Joint ownership of property by married couples can offer several advantages

Joint ownership of property by married couples can be a beneficial and strategic decision, offering several advantages that contribute to financial security and flexibility. When spouses hold property together, they become co-owners with shared responsibilities and rights.

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Joint ownership of property by married couples can offer several advantages

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  1. How Joint Ownership Benefit Married Couples?

  2. 1 2 • Tax Advantages • You can get a deduction on the interest payment of up to Rs 2,00,000 per person • You can benefit from a double capital gain exemption if you sell the property.

  3. 1 2 • Concession on Stamp Duty • It is a tax imposed by the government on property transactions. • When you buy a property with your spouse, it can help reduce the amount of stamp duty.

  4. Better loan terms Lenders take into account the combined earnings of both you and your spouse. This boosts your chances of getting approved for a loan at affordable interest rates and with better repayment terms.

  5. Improved Budget Management You can manage your EMIs and other expenses effectively.

  6. Smooth Succession If one partner passes away, the succession process does not require complicated legal procedures.

  7. Improves relationship It strengthens your relationship through shared responsibility and commitment.

  8. Not considering estate planning • Common Mistakes Married Couples Must Avoid Not allocating EMI or home maintenance expenses equally Not being familiar with loan terms Lack of documentation Not naming the nominee

  9. Owning a property with your spouse has several benefits. However, being aware of common mistakes is important to have a smooth ownership experience.

  10. Thank you! Would Love to hear from you. Hero Housing Finance Ltd. 09, Basant Lok, Vasant Vihar, New Delhi - 110057 Tel: 18001024145 / WhatsApp: +91 7996187333 Email: customer.care@herohfl.com Website: https://www.herohousingfinance.com/ Visit here: Joint ownership of property by married couples can offer several advantages.

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