When did father purchase property in minor son name?

Youngest son was 1 year minor during which his father purchased property in minor son name. Now his father mother are expired and the minor son is 30 yrs now. Now 4 sisters filed a suit that we have share in youngest son property saying that their father has purchased property in youngest son name when he was minor.

Who is the owner of my father’s house?

If it was joint with right of survivorship with another individual (e.g. your stepmother), then that surviving person would own the property. If the property was simply owned jointly, then that portion owned by your father would have passed to his estate. If he had a will, the terms of the will would control disposition of the property.

Can a sister claim property in the name of youngest son?

If the father has used the proceeds of ancestral property to buy a property in youngest son name, then sisters have a valid claim on the property in the name of youngest son. we need to see whether there was any ancestral property belonging to grand father, great father etc .

Who is entitled to the house if my father died?

If it was purchase before the marriage, the stepmother would have rights of contribution for mortgage payments made during the marriage as well as a life estate in the property. If it was purchased during the marriage, it would pass 1/2 to her and 1/2 to your father’s heirs ( you and any siblings).

Can you get a home loan with your father’s property?

In that case you can either take personal loan for certain amount or you can take home improvement loan as a co-applicant with your father. The eligibility for the loan will be particularly depend on the amount of loan you will need and also the bank requirements.

Can a property be purchased in a brother’s name?

Income-tax Officer, 18 (2) (1), Mumbai upheld assessee’s claim where he has claimed 54 exemption for a property purchased in the joint name with his brother,” informs Chandak. In this case the assessee businessman filed tax return showing capital gains on sale of residential property which he owned jointly with his wife.

Can you purchase a house in the name of a relative?

However, “many times it is seen that the taxpayers end up purchasing the new property in the name of their close relatives (children, spouse, parents, brother, sister, etc.) either out of emotional consideration or as a matter of Luck (Shagun) or for the sake of convenience only.

Can a parent buy a house with you?

One of the parents is a co-applicant of Home Loan to increase home loan eligibility. In such cases, either parent or bank insist that a parent should be co-owner 3. Parents will be staying in the property: In this case, the buyer can buy the property in his/her name, and no one is stopping him to allow his parents to stay in his house.

What happens if you buy a property with your father?

Inheritance: Not many buyers are aware that until unless an owner of the property leaves a WILL behind him/her, all class I legal heirs have an equal stake in the assets. In one of the case, a person A bought joint property with his father. He has four siblings. The father had 50% share in his property.

Can a minor purchase property out of his own funds?

A minor can also acquire immovable property out of his own funds. Any agreement for the purchase of an immovable property, has to be executed by his natural or legal guardian on behalf of the minor, as the minor is not competent to contract. While acting on behalf of a minor, the guardian has to act in utmost faith, for the benefit of the minor.

Can a property be registered in the name of a minor?

If the claimant can prove that this property is purchased with the income generated out of the ancestral property in the hands of the father, though it is registered in the name of his minor son, after the demise of father, the claimant has to prove this fact for claiming his/her share.

Who was the mother of the Minor who sold the property?

And my father has been living there since then. This property was sold by the mother of two minor sons after their father’s death. My father and grandfather were not aware of this and were neither informed by the official at registrar office that two minors were listed as owners in the property.

How is land sold by Mother of minor without consent?

The land was bought by father of the minors. It was in two parts. One part in the name of the mother and the other part in the name of the two minor sons. Both the parts are under one khasra. The mother sold both the parts and father was a witness in the sale.