joint property
rani
(Querist) 13 June 2011
This query is : Resolved
if husband and wife purchase joint property , which has not been registered and wife has paid a negilible amount of money and part of the payment is under bank loan , the loan is jointly held and is being paid by the husband ..what is the wifes share in the non registered property is she the joint owner as she has signed the documents as joint owner both with the builder and the bank , in the event of seperation can husband dispose off the property with out informing or in the eyes of law she is the joint owner regardless of the fact that her financial contribution is negligibe .the marriage is tweleve years old and the property was bought six years back.
PALNITKAR V.V.
(Expert) 13 June 2011
Basically it seems that the parties treated the property to be joint. They intended to purchase in joint name. Hence, it is very difficult to prove that wife has no interest in the said property
prabhakar singh
(Expert) 13 June 2011
If you are wife ,you need not worry.In case you are husband you are advised to obtain a no objection certificate from wife to be furnished to the builder and get the property registered in your name alone.However in the existing circumstances stated by you,the wife is joint owner of the property1/2&1/2 with husband unless her share is specifically allocated at the time of registration proportionate to her contribution of consideration.
