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Clarification regarding Home loan and repayments of home loan amount
15-Apr-2023 (In Banking / Finance Law)
I have a property in my name .the loan was taken by my husband and I paid the EMI.my husband used to transfer money to my account.the loan is foreclsed.my husband took a personal loan and transferred money to my account and I gave check to the bank.the house was taken for my parents.they had paid the down-payment and they stay in the house.thw loan amount was given to my husband which he spent.when now my parents wanted to sell the house and retire my husband took loan and paid the loan.now he us asking for 80% share in the sale amount saying he paid the loan and had the banks nic and documents proving the same. He is threatening.help. will we be face if I transfer the house in my parents name.advise.
MY OPINION THAT i have follow your problem, i think that the said property is your name,your husband has clear the lone ,the house now use by your parents,but the legal documents have by your name, by your bank account all the functions held,your parents can sell out the property in different legal ways.
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Adv. Ranabir Banerjee
Kolkata | 200+ Answers
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No madam. Your position is sound and positive. You need not transfer the property in the name of your parents for only the above mentioned reason, however as you have already said that your father is a retiree. it implies that he is a senior citizen and thus will get higher income tax benifit, it will be beneficial in that way. Now coming back to your question firstly you need a caveat done mentioning the above property in your district court, so that even if your husband file a court case in district court to get a stay or status quo on the property. you will be able to know beforehand and stop him from doing so,as stay means you can't sell the property and youcannot create a third party interest.socondly transfer the property in you parent name,so that you get tax benefits and also the case in lower court will be against you and your husband not against your parents they will be able to sell it.lastly madam are you a working women or a house wife and do you file income tax return. Now answer the question and mail me by paying a nominal fee to LawRato as after that I will be calling you for a meeting and will decide on our course of action.
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Adv. Rahul Uday Singh
Kolkata | 200+ Answers
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Disclaimer: The above query and its response is NOT a legal opinion in any way whatsoever as this is based on the information shared by the person posting the query at lawrato.com and has been responded by one of the Divorce Lawyers at lawrato.com to address the specific facts and details.
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