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puneeth   28 August 2017

Register property in mothers name which is earned by me

Hi Legal Experts,

I want to buy a site (30*40) in Bangalore but i dont want to register the property in my name and propose to register in my parents name prefarbaly my mother. Am married and dont want to register in my wifes name.

I have two siblings who are married and having kids. 

If i buy the property in my mother's name , i beleive that my siblings hold the right to acquire this property.

So how can i purchase this property in my moms name and ensure that only i can claim this property because i am bearing the entire cost

Looking forward to your assitance and answers

 

Regards

Puneeth

 

 

 

 



Learning

 7 Replies

Kumar Doab (FIN)     28 August 2017

THE BENAMI TRANSACTIONS (PROHIBITION)

AMENDMENT ACT, 2016

(9) "benami transaction" means,—

(b) the property is held for the immediate or future benefit,

direct or indirect, of the person who has provided the consideration,

except when the property is held by—

https://karnatakajudiciary.kar.nic.in/hcklibrary/pdfupdates/BENAMI_TRANSACTIONS_(PROHIBITION).pdf

Kumar Doab (FIN)     28 August 2017

Prespectives; Settllement deed with due narration and registered by making payment of proper duty by Mother with life rights for her and after to devolve upon son (that paid the money).

 

 

Kumar Doab (FIN)     28 August 2017

Prespectives; Registered WILL by mother in favor of son (that paid the money) with /without conditions.........structured to suit interest as per facts/situation...........

It is mandatory to probate the WILL at areas of; Bombay, Madras, Calcutta..

Probate has its own hazards, time, money, court fee, lawyer's fee.......

 

Kumar Doab (FIN)     28 August 2017

At other locations if contested WILL shall land up in probate court...........

If WILL is not contested then it shall be simple procedure of 'Testate Succession'   without any charges/fee

Kumar Doab (FIN)     28 August 2017

Registered Gift deed with suitable narration............

Krishna. Advocate (Advocate)     28 August 2017

  1. If you register the property in your mother  name, though you bought this property from your money , your mother would be considered as absolute owner of the property.
  2. Since it is a self acquired property, during the mother life time , you and your siblings cannot claim any share in the property.
  3. Since It  is a self acquired property,if your mother died intestate , daughters,Sons and husband will be the legal heirs. They have equal share in the property.
  4. To ensure that only you get the said property, obtain a WILL from your mother.Though registration of WILL is not mandatory.Get it Registered.
  5. But your mother can revoke the WILL at any time,So if possible,  keep all records for the fund transaction towards the purchase of the property to prove that you had paid the entire consideration for buying the said property,Then you can file a declaratory suit before the court for declaration that you are the owner of the said property.But it may not fetch you the desired result after the legal battle.

Advocate Krishna

 

Kumar Doab (FIN)     29 August 2017

Discuss in person with a LOCAL very able counsel and share all issues that you have hinted in 1st post but have not posted.................

LOCAL senior counsel of unshakable repute and integrity specializing in revenue/civil matters ( Family matters if you have any such issue) and having proven expertise in such matters can help and draft suitably to defend your long term interest....

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