Can a house be registered in two names?

Can a house be registered in two names?

a) The land can be registered in more than one name. In case it is registered in your name as well as in your wife’s name, you will be considered the owner of the property because the funds for the purchase of the property have emanated from you.

Can mother buy Sons property?

Yes, son can purchase the property from his mother . Son has to take care that will should be registered or there is no objection from other legal heirs.

Can I buy a house jointly with my son?

Yes. Many lenders are happy to approve joint mortgages for family members. Many parents will choose to apply for a mortgage jointly with their children in order to help them onto the property ladder. Our guide on helping your child buy a property will help you work out if this is the best way to assist them.

Can I buy a property in my son’s name?

A If your sons are under 18 then no, you can’t buy the house in their names because minor children can’t own property – it has to be held in trust for them. But even if your sons are adults I am not sure why you would want to put a house that you want to live in until your death in their names.

Can I buy a house in my mother’s name?

Buying property in your mother’s name could now fetch you seven years in jail. According to the amended Act, you can buy property only in the name of your spouse or in any of your children’s name without being a joint holder. The Act is already being enforced by the IT Department.

Can a son give money to his mother?

Transfer of Money from son to Parent (Mother/ Father) M – no tax would be levied on transfer of this money as this is a gift from son to parent. Parent and Child are considered as a specified relative under the Income Tax Act and any gift from them is not chargeable to Tax.

Can I buy property in my child’s name in India?

Advocate Goturu Krishna Rao. Yes you can purchase property in your daughter’s name. As she is minor she should be represented by you for registration of property in her name. Once you purchase the property you will not be entitle to sell it in future without the permission of court, unless she attains majority.

Who is in possession of property in simple mortgage?

Essentials of mortgage[3] The mortgagor who has the possession of the overall interest of the property only cedes a part of the interest in favor of the mortgagee while mortgaging his property in order to secure a loan.

Can I gift my sister money to buy a house?

In theory, anyone can gift you a deposit. In reality, however, most mortgage lenders prefer if the person giving you the money is a relative, such as a parent, sibling, or grandparent. Some lenders have even stricter requirements, stating it must be a parent that gives you the money.

What is a stay order on a property?

Stay order on the property- It is a temporary injunction on a property where the concerned property is being damaged or alienated or has been wrongfully sold in other cases where an opposite party is threatening to dispose of property or property is under dispute. It is granted by Court as per order 39 of CPC.