How can a person take over their parents' home loan?

According to Aditya Birla Housing Finance CEO Pankaj Gadgil, transferring an existing home loan from parents to a child is possible in many cases, but it's not automatic. The person seeking to assume the loan must obtain the lender's approval, he said. "Lender must assess the new borrower's repayment capability, credit profile, age, income stability, and property-related documents," Gadgil added.