Family Property

Querist : Anonymous (Querist) 16 April 2011 This query is : Resolved
Respected Sirs,

Whether flat purchased by father in 1980 by his own money and payment also made from his own bank account, but the said flat was purchased in the name of his son. can this transaction considered as a Benami Transaction? Father was expired in 1990 leaving behind him 4 heirs. Is there any legal possible consequences with regard to the said flat to the said son?

Please advise.

Thanks.

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adv. rajeev ( rajoo ) (Expert) 17 April 2011
yes it is benami transaction. If the others claimed their share in that property, they will have to prove that son was not having any income while purchasing the property.

Uma parameswaran (Expert) 17 April 2011
Father can purchase property in his son's name.

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