Ownership of flat & funding procedure

pooja dedhia (Querist) 27 May 2012 This query is : Resolved
mr A has paid the earnest money to purchase of the flat which under redevelopment project.

HE WANTS TO do following planning for purchase of the property.
1.he wants to be 3 owner of the property.
i.e. he himself
his mother & father
2.initial down payment already paid by Mr A 'S BANK saving account.He has paid through the funding by his parents by gifting through the mode of cheque.
3. i want to know that is it make impact if agreement is made among 3 person 60%, 25% & 15 % respectively.
and entire funding by the Mr a through his parent gifting to mr a

is it legally proper arrangement?

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