Husband purchased a property in the name of his wife
CHAUHANMA
(Querist) 15 July 2012
This query is : Resolved
Dear Sirs,
Please help me by giving expert opinion to the following query, Thanks
- Husband purchased a property in the name of his wife through a sale deed
- Both Husband and Wife are living in the same property
- Property has been mortgaged with a Bank
- Husband has taken the loan from said Bank for making payment of the said property
- Husband is still making payment the consideration price of the said property through monthly installments to bank from his salary
- Now wife shown her intention that since she is owner of the property hence the husband has no right in the said property
- Therefore Husband wants get cancelled the said sale deed OR wants to take back the said property as real owner because he had not gifted the said property to his wife, it was simply purchased in the name of his wife but no consideration money / price of the property OR part thereof was paid by the said wife.
Please advise, how the husband can get registered the said property in his own name?
Devajyoti Barman
(Expert) 15 July 2012
Since the property was purchased in the name of the wife it would take time to get stamp of the court in favour of him.
The husband will have to file a suit under Benami Transaction Act.
The payments made to the Bank would be considered to be the consideration paid by the husband.
ajay sethi
(Expert) 15 July 2012
sale deed made in favour of wife cannot be ccancelled .
what is amount of loan taken on the property? how much is loan outstanding as on date?
if loan amount is substantial dont pay the loan and let bank sell of the property for recovery of its dues .
CHAUHANMA
(Querist) 15 July 2012
TOTAL PRICE OF SUIT PROPERTY WAS TAKEN BY HUSBAND FROM BANK AND PAID TO THE SELLER BEING CONSIDERATION VALUE AND WIFE DID NOT PAY ANY MONEY, IT WAS THE HUSBAND WHO PAID 100% AMOUNT AND HE IS STILL PAYING MONTHLY INSTALLMENTS TO THE BANK WHERE THE TITLE DOCUMENTS HAVE BEEN SURRENDERED IN RESPECT OF MORTGAGE.
