Property in name of Husband and wife
S.D. Singh
(Querist) 28 June 2010
This query is : Resolved
A property was purchased by husband from his money and he wants that registry is made jointly in the name of husband and wife. But also he wants that in future, if he wants to sell the property, he could sell it without the consent/ signatures of his wife. Whether it is possible. Whether any para can be added in the registry deed to this effect or any separate power of attorney from his wife if obtained would serve the purpose or any other mode , please reply.
Bobby Mani T
(Expert) 28 June 2010
Once you include your wife's name in the deed she have to sign inorder to transfer the property. You can make a power of attorney in your favour from your wife for enabling you to transfer the property of your wife
Legal Fighter
(Expert) 28 June 2010
But the power of attorney can be revoked by wife at any time after making it in favor of the husband. So better don't include her name if you solely want to keep all the selling rights.
Chanchal Nag Chowdhury
(Expert) 29 June 2010
U may add any number of paras U want. The legal position is that Benami transaction is still allowed between husband & wife. The husband should however declare this transaction suitably in his Income Tax Returns. Only then he may claim to deal with the property independently of his wife.
