Property: gift deal, release deal or direct sale to parents. how to save my property from wife?
joshi
(Querist) 25 May 2012
This query is : Resolved
I have been separated from my wife since last 11 months. Still no police/ court cases / response from either parties. I want divorse but they don’t want to give. (…nothing new in this)
I have flat worth 25 lakh as market value. Flat is owned by me and my mother as co-owner.
I’m 50 % owner of prop mean 12.5 lakh. I, My sister, father & mother are living in the same flat having ICICI loan around 11 lakh. I’m paying loan alone. Due to loan no saving since last 2 years.
If the proposed amendment bill 2010 get come in enforce in future, I may be entitled for 50% of my property to give her.
My wife is BE (civil) and higher in qualification but lower in salary than me. She also not wish to come to my house. So no problem of asking share house hold.
I have few Questions.
1. If we are living in flat & not able to give her the money worth her 50-% share. What will happen?
2. Should I gift my owned property to my mother or father?
3. Make release deal which make my mother total owner of flat. (By clearing my home loan by sealing mothers Jewels).
4. Sale directly to my father by taking proper money of 12.5 lakh and re-pay home loan later.
I heard that gift deal or release deal can be canceled by court considering afterthought intensions. Is it true?
After re-paying my home loan my salary will be get opened to her for future maintenances too. What are the resolutions for the same?
Few local lawyers suggested me to wait and watch. That fine. But it should not be too late, if my wife file any notice for not to gift /sale my property. I won’t do anything than waiting for her to rob me legally.
Expecting you kind suggestions?
joshi
(Querist) 25 May 2012
Anyone please reply me ?
ajay sethi
(Expert) 25 May 2012
1)the amendments have to be passed by parliament . as on date you are not liable to pay her 50%
2) sell your 50% share to your parents .
you can if you desire make a gift deed in favur of your mother but your wife can claim that this was done inorder to furstrate your wife claim . she will claim right to stay in shared household under DV act .
Shonee Kapoor
(Expert) 29 May 2012
This is not a law as yet.
However transfer by any means would be a transfer only.
Regards,
Shonee Kapoor
harassed.by.498a@gmail.com
Shonee Kapoor
(Expert) 29 May 2012
I meant when it is transferred by any means, you loose any control over it and so your wife can not claim anything.
Regards,
Shonee Kapoor
harassed.by.498a@gmail.com
joshi
(Querist) 29 May 2012
Thanks shonee ji
I heard that gift deed or release deed can be canceled by court considering afterthought intentions of harassing wife.
That's why I heisted to Gift my property to Father or mother.
and to gift this flat I have to repay 11 Lakh loan to my ICICI bank.
After repaying loan, my salarty of 40000 will get available for my wife to ask huge maintenance .... Though she is earning 9 000 per month as BE (Civil)
All is mess for indian Husband...
joshi
(Querist) 31 May 2012
she will claim right to stay in shared household under DV act.
--> May I know any resolution if she came with Police to stay in my house.
--> What if I denied to stay in my own house. even if she file DV act on me ?
