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Will a property being sold for Rs 1 be called benami
15-Feb-2023 (In Property Law)
Please suggest if the property has been bought in 1973 on someone else's name and that person has given an affidavit as he is further gifting the property at Re. 1, so this can be proved as benami property now
It is not clear
1. whether this some one is a relation of the family. 2. What is the nature of the property 3. How can gift of property be a Re 1/-. It is not legal.
4. What is purpose of this query.Is it to prove Benami or not to ?
1. whether this some one is a relation of the family. 2. What is the nature of the property 3. How can gift of property be a Re 1/-. It is not legal.
4. What is purpose of this query.Is it to prove Benami or not to ?
Helpful?
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Adv. Usha Sharma
Delhi | 25+ Answers
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Such transaction do not attract bemani traction prohibition act 1988.as it's not covered under sec 2 of the Act.A S their is no transaction as per the Act.Nominal traction is no transaction at all as per interpretation.
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Adv. Amit Gaurav
Delhi | 200+ Answers
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See for a property to be declared Benami, the illegality must be proved. Since in your case it seems like the property was gifted so, the possibility of it being declared Benami seems not evident. But, for an accurate advice need to see the documents of the property and the executed deed of Gift in the recent owner's name.
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Adv. Ramaditya Tiwari
Delhi | 100+ Answers
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