Legal Question in Real Estate Law in India
Is it Benami
we are family of four living together... i was keen in buying a new house ( property),,Due to shortage of fund, My Father sold our existing house & we brought a new house ( my contribution around 10% from my account) in the name of my mother & mine name ( I'm his only son)....i use to remit money in his account, 90% of money flew from my father account
Ther was no capital gain.... My Question is ''will this property will be consdered Benami''... I was not aware earlier...if yes how to make the title clear in my name..... We are still living together,,,, Since i came to know about the benami act i'm worried about our hard earned money... kindly help, god bless, thanks
2 Answers from Attorneys
Re: Is it Benami
That depends on treatment given in the accounts.
Re: Is it Benami
Your name is already there in the title; if you want to change the share pattern you may enter into a family settlement.
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