5 Advantages of Married Couple Owning a Joint Property

January 22, 2018by Team CapitaWorld0

Joint Property

The term joint property denotes a form of co-ownership, where the property is owned by two or more the individuals at the same time.  The parties could be a spouse, parents, business partners or in any other combination.

Advantages of Joint Ownership of Property – for Married Couple

Owning a property is always considered as a smart decision, especially when the spouse is the other partner. Here are 5 most important advantages of owning a property in joint name by a married couple:

1. Affordability : The burden of loan is divided between two people. Moreover, if both husband & wife are earning then they can consider for the higher loan amount. But the couple has to make sure that property is registered in the name of both the party.

2. Tax benefit : In Joint Home Loan cases, the co-borrowers can claim a tax deduction of Rs 1.50 lakhs for principal repayment under Section 80C and Rs 2 lakhs for interest payment under Section 24 of the Income Tax Act.

3. Stamp duty : Usually, the stamp duty is lower when a female borrower is involved in a property transaction.

4. Succession : The succession process of ownership of property of a single owner is tedious and time consuming. Many a times, in case of demise of one of the spouse, the partner has to go through various unwarranted problems. When a property ownership is in the joint name, the survivor automatically becomes the sole owner in case of death of the other partner.

5. Better Relationship : When a couple purchases a property, it leads to better bonding between husband and wife. It paves way for long term commitment between the two as it also showcases equality in relationship.


It doesn’t matter whether you are looking for into buying your first home, want to shift to another home, invest in or renovate the current house, you need to do thorough research to get a competitive and a good deal. The married couple can easily simplify cumbersome home loan & property issues if they hold the property jointly.

We hope that this article will help when you wish to avail home loan for yourself. If you have any query related to home loans, then you can get a free consultation at CapitaWorld.


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