Regarding residential property
rakesh
(Querist) 17 May 2012
This query is : Resolved
(a)I am a govt employee and was alloted a residential apartment by a govt agency whose payment i had made from my salary and savings. Around 6 months back i had gifted that apartment to my mother through a gift deed.
My mother thereafter sold that apartment to a third party two months back(by registered sale deed).
(b) Unfortunately in the meanwhile my relations with wife became bad and she went to her parent's place.one day i got a call from my father in law that why i had sold that flat and i said i had gifted to my mom who had sold it to someone else and that it was none of his business what i do with my flat. My father in law started blackmailing and accused that the sale deed done by my mother was less than the actual price paid by the buyer and he knows the actual price at which the flat was sold and that it was your conspiracy to gift it to ur mother so that my daughter can't ask for any share in that.
(a) Since my father in law threatened to complain to police regarding selling of flat by my mother and taking of extra money from buyer in cash(which is what he is accusing me of and doesnt have any proof)i want to know what is my liability in such matter?Since i am govt employee what is my legal liability in such case if tomorrow police is able to prove extra money was exchanged between my mother and the buyer.My mother is also not telling what amount she had actually sold the flat to that person.
(b) Can my mother settle matter by paying tax on extra money or will i be prosecuted for misconduct due to disproportionate assets held with my mother since i am a govt employee and the flat was in my name and i had gifted it to my mother?
ajay sethi
(Expert) 17 May 2012
once you have executed gift deed your mother is absolute owner of said property .
your mother has full right to sell the property to whom sever she desires .
as far as sale price is concerned sincwe property has been sold by your mother , sale proceeds received by your mother you are not aware of the details of transaction .
let your father in law take such action as he desires
Deepak Nair
(Expert) 17 May 2012
Your father in law has no right to interfere in your family affairs and there is nothing illegal in the sale of property by your mother. Your wife has no authority to claim share on that property.
rakesh
(Querist) 17 May 2012
Sir, thanks a lot for ur answers
Sir pls also tell me since as per law gift deed has to be without consideration, is this gift deed valid because once in year 2008 my mother had given some amount to pay for the yearly instalment of the residential apartment( i.e before taking over of the possession) as i was not having any money to pay that year's instalment...will that money paid by my mother nullify this gift deed or it still stands good(the apartment is of approx 20 lacs and mother gave me 2 lacs in 2008).
(b) also i am not aware of the actual amount which that buyer paid to my mother but should i advise my mother that if she has received any extra amount above the registered gift deed, she should pay tax on it too?
(c) Am i in any case liable to criminal misconduct being govt employee if later on in any enquiry it is found that my mother received some extra amount from the buyer as my father in law says that i made gift deed to avoid prosecution by police due to future enquiry of unaccounted money........pls seek ur kind advise in this regard
Deepak Nair
(Expert) 17 May 2012
No. That will not nullify the gift deed. It cannot be said that the said amount was a consideration to the property gifted.
Shonee Kapoor
(Expert) 18 May 2012
She has gifted some money to you, That is a separate transaction.
Now you have gifted your house, that is a separate transaction.
Why are you trying to mix the same.
Regards,
Shonee Kapoor
harassed.by.498a@gmail.com
Shonee Kapoor
(Expert) 18 May 2012
And FIL would cry like this only, because his dreams of arm-twisting you on this property is lost. Let him cry :-)
Regards,
Shonee Kapoor
harassed.by.498a@gmail.com
rakesh
(Querist) 18 May 2012
Sir my father in law also knows that he cant do much about the sale but since he expressly threatened me with filing a complaint against me and my mother for inquiry into extra money received over and above the sale deed in cash(which was registered as per registrar charges and stamp duty also paid).....am i legally liable for such charge if proved that the same happened and some recovery of unaccounted money made from my mother in future.....i asking because of specific nature of threat and his contacts in police etc
