Property (Purchase by son) in the name of mother
12-Jan-2023 (In Property Law)
Hi, I have purchase a house in the name of My Mother for which I have taken loan also & I m regularly paying emi. Now question is can my sister & brother legaly claim share in this property. If yes then what I should to do.
Query perused. I would advise you to kindly tell your mother to execute a Will with respect to the property in question in your name and get it registered. Hope it clarifies. For further consultancy and legal services you may contact us.
What is the right of son in self-acquired property of father?
The father can give or will a property he has acquired himself, and his children have no right to object. If the father does not leave a will at his death, then the property acquired by the father is distributed equally amongst the legal heirs. 12-Apr-2023
Can father purchase property in son's name for capital gain?
You would not be liable for tax on the purchase of property. Your father, however, will have to pay capital gains taxes on the sales. The amount of capital gains would be determined by the sale price, date of sale, purchase price, and date of purchase, etc.
Can father transfer property to one son?
The family estate cannot be transferred to a son by a parent. Hindu law stipulates that an ancestor’s property can only be left to a child if there are certain conditions such as hardship, religious reasons, or financial hardship. The ancestral property cant be given to just one child.
Can my son claim my father's property?
Hindu Law (Hindu Succession Act 1956): A son cannot be entitled to ownership or a portion of the fathers estate during his life unless the father transfers or gifts the property. The father can give his son ownership by transferring it through a valid gift deed.
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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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- Gift deed from mother to son but paid in cash the property value
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