Buying a house from my parents

Balaji (Querist) 13 May 2013 This query is : Resolved
I intend to buy a house and get it registered on my name from my parents. The primary purpose of this is to save tax. Can you please advise if this is legal and if banks would process the loan? It would also be helpful if anyone can enlighten on any other legal and tax implications etc.?
Note: My parents are retired and they have no other income.

Regards,
Balaji

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Nadeem Qureshi (Expert) 13 May 2013
you can easily bear lawyer's consultation fee

Raj Kumar Makkad (Expert) 14 May 2013
Such commercial queries are not attended on this site. This is charity and you need to save tax so incur money for saving your tax.

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