Buying property when wife is estranged


Dear Friends;

I wanted to know how can I buy property when my wife is estranged and there are criminal cases going on against me( the typical 498,406 etc etc). Should I buy it in my parents name or sister/ brothers name?

If so how should I transfer the money to them. Should it be in white or black. Pls guide on the taxation aspects also taking into account that my brother/sister, parents should not be hounded by tax authorities.

Your valuable guidance will be appreciated.

Regards

 
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Advocate

If you purchase property in your name then your spouse always can made claim against such property.

How ever if property is in name of brother  father mother or sister then your wife  has no right  to make  claim against such property . For this purpose you  CAN MAKE A GIFT OF MONEY TO  your sister or brother father or mother  which  tax free under  I T Act . and from such money the said person can buy property in their name.

 
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Dear Client,

                If you have not committed any crime etc against anyone including your estranged wife if you are only falsely iiplicated in such crimes , then you can make gift of property, whether cash or immovable to any one of your relatives mentioned by you in order to be out of the tax net.

 

Ms.Nirmala P.Rao

Legal Expert

 
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