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RajaRajachozhan (retired )     29 September 2020

Sale of house property

I am selling my house property to A and B (Husband and Wife).   Whether wife can be a  Purchaser along with her husband without contributing any amount ( consideration) for purchase of the House Property.    

From Tax angle and legal angle  how it will affect the Seller and also the Purchasesr?


 6 Replies

kavksatyanarayana (subregistrar/supdt.(retired))     29 September 2020

The seller can sell his property to the husband and wife.  There is no legal problem.  If the seller sells his property to one or two or more, the tax is one and the same. No change in tax.  The tax for buyers will be distributed according to their shares.

RajaRajachozhan (retired )     29 September 2020

Respected Sir, Thank you for the opinion.   My question is whether wife who has no income (she is not contributing towards purchase price and husband only paying the consideration) can be in the purchasing team and whether she can be joint holder of the property? 

Dr J C Vashista (Advocate)     30 September 2020

Yes, she can purchase any property.

However, as a vendor / seller what is your problem, if she is purchasing it ? 

Consult a local prudent lawyer with relevant documents for better appreciation of facts/ records, professional guidance and necessary proceeding.

G.L.N. Prasad (Retired employee.)     30 September 2020

A seller has to register the property as demanded by the purchaser and his duty is to receive consideration and who among the two paid consideration is no concern of the seller.

Hemant Agarwal (ha21@rediffmail.com Mumbai : 9820174108)     30 September 2020

1. The Seller has no legal right to demand as to who funds the purchase of his property or how many purchasers are involved in his property or how the taxation is going to be taken care off by the purchasers.

2. Seller should be concerned that property is sold ONLY via a Registered Sale Deed, Money taken officially, deduct TDS (as applicable), give proper possession, declare same in his own income tax returns.  PERIOD.

Keep Smiling .... Hemant Agarwal
VISIT: www.chshelpforum.com

P. Venu (Advocate)     30 September 2020

Yes, this is strictly a matter between the husband and the the wife who are the purachsers. It is burdensome to be too officious.

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