Company accomodation and family issues
B.S.NARAHARI
(Querist) 31 January 2015
This query is : Resolved
Respected Sirs / Madams
The following points explains you the true facts.
1) My father owned 1200sqft vacant site upto year 2005.
2) As iam only son to my retired parents (with No pension ) so my father gifted the said vacant site to me in the year 2005 to avail housing loan. Then i borrowed housing loan in the same year & got commenced the house construction activities & completed by year 2006 feb.
3) Since iam working for Govt PSU at Bangalore & we residing at Company provided quaters with 30% HRA deduction since from our occupation of quaters dated November 2002.
4) after the completion of house construction in feb 2006, I decided to leave the company quaters & move to the new ly builtup house along with my aged parents. But my mother resisted owing to the remote location & lack of houses nearby our newly built house.
5) Then i offered the new house to my friend for a lease period of 3 years just to clear few petty loans.
6) Meanwhile i got married by my parents & as usual misunderstanding in families arised.
7) I sustained all the family pressure's till completion of 3 years lease period of our new house.
8) In year june 2009,Again i decided to quit company quaters & move to our own house & wish to settle. But again my plan failed .
9) My parents agreed to settle in our own house, Provided if i bear their monthly household expenses, For which i committed.
10) I continued to stay in company provided quaters along with my wife & kids.
11) To-day i got circular from our company stating to quit company quaters within 3 months for those who own the house within Bangalore limits.
12) The own house where currently my aged parents are staying is in my name.
13) Due to family problems & to take care of small kids, My mother-in-law(widow) is required to stay with us.
14) our own house is just 3 kms away from my quaters.
Can i again gift deed our own house back to my father or mother or mother-in-law, Because all these three elders are dependant on me.OR ELSE can i enter into GPA or any sale agreement kind of things with my mother-in-law so as to prove that i do not have own house in my name.
15) The own house is only ground floor & i will not get any rent as income despite my 30% HRA deduction from company itself.
If the own house is not in my name & after housing loan clearance then i can continue to live in Company quaters for couple of reasons.
a) School is nearer for kids
b) Iam required to travel for outstation company projects
I request you to advise.
Thanking you Yours faithfully
B.S.NARAHARI
P. Venu
(Expert) 31 January 2015
Once you transfer the property, you may continue to be eligible for company accommodation. However, this arrangement could turn out to be disadvantageous in future.
Guest
(Expert) 31 January 2015
Repeated query.
ajay sethi
(Expert) 31 January 2015
repeated query
B.S.NARAHARI
(Querist) 31 January 2015
Dear Sir,
My wife is the only daughter to my mother-in-law who is widow. She is dependant on us. So if i gift deed the said house in her name or else execute Will in mother-in-law name. Is there any problems?
After 3 years again i wish to get gift deed in my name to avail housing loan for construction of first floor & leave company quaters & settle in my own house, Because my childrens will be grown up after 3 years from now.
Yours faithfully
Narahari.
T. Kalaiselvan, Advocate
(Expert) 01 February 2015
You have repeated the query, you may visit the previous thread for more replies.
