Gift of property
vickydonor
(Querist) 01 May 2012
This query is : Resolved
Relations with wife strained and expecting 498a etc
Pls answer this query(My query is motivated by a desire to preserve what's is mine and not to fall prey to hands of a greedy and cruel wife who time and again threatens me to transfer my assets to her to escape 498a etc)
(a)in view of the likelihood of marital property act being passed in near future....i have a plot alloted in my name from a govt agency and payments towards its cost made from my own income..can i gift that plot to my father/mother? what is the procedure...will i have to get a registered deed done and then gift by way of sale deed or can i transfer the allotment itself by way of gift?
(b)will there be any claim by wife on such property in a court proceeding as it was acquired after marriage
(c)if my father further sells the plot to a third party say after 1-2 months of my gifting the plot to him...is it fine or will it be deemed to be done in malafide
(d)if father thereafter on selling the plot gifted by me, gifts the amount of money received out of sale back to me...is it fine or will it be seen malafide...and will there be any tax liability on it?
ajay sethi
(Expert) 01 May 2012
sell your plot .
why you want to transfer it in name of your father and your father then sells it
SAINATH DEVALLA
(Expert) 01 May 2012
We had a similiar query a couple of weeks back.Why gift it and then ask your father to sell it again? better sell it your self secretly.
Devajyoti Barman
(Expert) 01 May 2012
1. Gift it to your family member , else sell it to a stranger.
2. Not after sale.
3.Fine
4.Fine
Do not post hypothetical query again.
The Act you have in mind is yet to be enacted and no body knows what would be its actual wordings.
Shonee Kapoor
(Expert) 07 May 2012
Agreed with Ld. Barman.
Regards,
Shonee Kapoor
harassed.by.498a@gmail.com
