Legal Question in Real Estate Law in India
Sale proceeds of a land allotted as compensation to refuge, utilised by him for construction of a house on a self acquired land.
Major portion of funding for construction however from his own savings and borrowing from govt/bank.
what will be the status if the house; will it be a self acquired property or an ancestral property.
Asked on 10/13/09, 1:56 pm
2 Answers from Attorneys
Seshadri Srinivasan
www.lawconcern.com
It depends on the source of income used for construction.
Answered on 10/13/09, 9:22 pm
Shrichand Nahar
S.V.Nahar, Advocate
Nature of land is not clear. What is meant by allotted as compensation to refuge? As also your personal law would be relevant - inform personal law governing you.
Answered on 10/14/09, 1:16 am
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