Family Property - Is it Benami?
Mahesh Shah
(Querist) 17 April 2011
This query is : Resolved
Respected Sirs,
Whether flat purchased by father in 1980 by his own money/savings and payment for the purchase of the said flat has also made from his own bank account, but the said flat was purchased in the name of one of his his son. can this transaction considered as a Benami Transaction? Father expired in 1990 without making any will and leaving behind him 4 legal heirs. Is there any legal possible consequences with regard to the said flat/son? If its was a Bemani transaction, what could be the possible outcome in future?
Please advise.
Thanks.
