https://www.taxtmi.com/article/detailed?id=248 The Reverse Mortgage Scheme, 2008 authorises eligible senior individuals or qualifying married couples to mortgage capital assets to approved lending institutions (National Housing Bank, scheduled banks, or registered housing finance companies) for loans payable by periodic or lump sum disbursements subject to limits; it mandates written application, processing, a written loan agreement, specified documentation (owner and heirs' particulars, PANs, property details, acquisition/improvement costs, and registered will), caps the mortgage term at twenty years, and fixes repayment liability on the reverse mortgagor or their legal heirs or estate at foreclosure. en-us Fri, 19 Dec 2008 00:00:00 +0530 Thu, 10 Dec 2009 21:37:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=248 The Reverse Mortgage Scheme, 2008 authorises eligible senior individuals or qualifying married couples to mortgage capital assets to approved lending institutions (National Housing Bank, scheduled banks, or registered housing finance companies) for loans payable by periodic or lump sum disbursements subject to limits; it mandates written application, processing, a written loan agreement, specified documentation (owner and heirs' particulars, PANs, property details, acquisition/improvement costs, and registered will), caps the mortgage term at twenty years, and fixes repayment liability on the reverse mortgagor or their legal heirs or estate at foreclosure. Articles Other Topics Fri, 19 Dec 2008 00:00:00 +0530 https://www.taxtmi.com/article/detailed?id=248