Legal Question in Real Estate Law in India
Sec.2(a) of benami transaction act 1988 clearly enumerates that a transaction is a benami transaction if a property is transferred in the name of one person for a consideration paid or provided by another person. The CONSIDERATION 4 MY HOUSE is paid by a bank. Is this a benami transaction in view of the act? If no why?What will happen if my father/sister/ brother pay for my house?
Asked on 10/18/10, 1:22 am
1 Answer from Attorneys
Shrichand Nahar
S.V.Nahar, Advocate
Read the section carefully with plain meaning.
Answered on 10/18/10, 10:00 pm
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