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Buying joint house using property gifted to wife by parents.
10-Apr-2024 (In Divorce Law)
Is there any possible issue in registering our new house in both husband (me) and wife's name? She is a housewife but has another property in her name gifted by her father.
She wants to sell this property to contribute to the new house purchase. Legally does it count as dowry since the source of income is her father.
Depends on her contention taken on the time of dispute. Because new property is being purchased on the cost of her property given by her parents may be deems to part of divorce. so better take some understanding from her. it may leads to forceful dispositions of property.
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Adv. Babita
Bangalore | 25+ Answers
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If the property is purchased in joint name she will be a joint owner, and as it was gifted by her father to her and after sale if she contributes her money for family necessity it does not amount to dowry, but yes she may try to say that you forced her to sell the property and try to file a case if disputes arise, if property is purchased in joint name there is no problem if there are no disputes, but if you want to secure loan or sell it you will require her consent and signature of your wife as she is a joint owner, so you have to take a decision based on your financial condition and your relationship.
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Adv. Bharat Narasgouda
Belgaum | 500+ Answers
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Dear Sir,
It may be considered as dowry if such amount coming from sale proceeds. Better to avoid such step and take bank loan in your name and see that new house is in your exclusive name. Further, if the old house is sold standing in the name of your wife take the amount in cash and try to discharge your bank loan without reflecting such sale transaction.
It may be considered as dowry if such amount coming from sale proceeds. Better to avoid such step and take bank loan in your name and see that new house is in your exclusive name. Further, if the old house is sold standing in the name of your wife take the amount in cash and try to discharge your bank loan without reflecting such sale transaction.
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Adv. Kishan Dutt Kalaskar
Bangalore | 500+ Answers
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