A. The fact given in the query indicate that the third will executed by your mother was not attested by two witness who have seen the testator sign of the Indian Succession Act, 1925 deal with the execution of will by a testator, not being a soldier employed in an expedition or engaged in actual warfare, or an airman so employed or engaged, or a mariner at sea. The testators in accordance with provision of the said Act is required to follow the rules given below while executing a will:

The testator should sign or should affix his mark to the will, or it should be signed by some other person in his presence and by his direction.

The signature or mark of the testator, or the signature of the person signing for him should be so placed that it would appear that it was intended thereby to give effect to the writing as a will.

The will should be attested by two or more witnesses, each of whom has seen some other person sign the Will, in the presence and by the direction of the testator a personal acknowledgement of his signature or mark or of the signature of such other person; and each of the witnesses should sign the Will in the presence of the testator, but it would not be necessary that more than one witness be present at the same time and no particular form of attestation shall be necessary.

The third Will executed on an inland letter does not seem to be in accordance with the aforesaid rules. It may therefore, be difficult to get the same probated. Deduction in respect of payment of the principle amount can be claimed by a person who is the owner of the house and who has been granted the loan by an institution for the purchase or constriction of a residential house. In view thereof, you would not be entitled to claim such deduction in case house is owned by your wife and loan also had been obtained by her for the purchase or construction of the residential house.

You can definitely buy the house from your wife. The transaction, however, would involve the payment of stamp duty on the sale of such house. Capital gain arising on such a sale would also be exigible to income tax. You should be able to avail loan facility for buying a residential house. However, it would depend upon the bank and in case you are able to obtain such facility, the deductions in respect of interest and installments towards the repayment of loan would be allowable subject to compliance with the provisions of the Act.