Transfer of property act

yogesh (Querist) 05 May 2012 This query is : Resolved
can a loan taken from a seller be used to buy the immovable property of the seller and what are the consequences if after the demise of the seller the legal heirs claim the registration was sham.

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ajay sethi (Expert) 05 May 2012
have you repaid the loan ?

ashutosh mishra (Expert) 06 May 2012
Is it a query or some hypothesis ?????????

Shonee Kapoor (Expert) 06 May 2012
These are two different transactions.

The loan would need to be repaid.

The heir professing it to be a sham transaction would need to prove his case.

Regards,

Shonee Kapoor
harassed.by.498a@gmail.com

yogesh (Querist) 07 May 2012
no, the loan is not repaid because the deceased seller has made a will wherein the buyer is the beneficiary of the estate of the seller and not his legal heir.
The seller died 1 month after the sale transaction.

there is nothing to prove that it was a loan or a gift,in this situation can it be said that it was a gift.

this query is not a hypothesis.

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