Legal Question in Real Estate Law in India
Due to fund shortage a relative of mine paid for a property registered in my name. I took possession recently and sold the property subsequently. All papers including conveyance deed were in my name. I sent him the money I owed. Now is this property considered Benami under new Prohibition of Benami property Act of 2012? If so, what are my stakes ? Can the relative put me in any kind of legal trouble ?
Asked on 4/01/12, 11:26 am
1 Answer from Attorneys
Shrichand Nahar
S.V.Nahar, Advocate
If one borrow money and use it for purchase of property, then provisions of Benami Act may not be applicable.
Answered on 4/02/12, 3:37 am
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