PROPERTY PURCHASED ON BOTH WIFE AND HUSBANDS NAME
Atish
(Querist) 22 October 2009
This query is : Resolved
I HAD PURCHASED A PROPERTY IN 1995. I HAD OPENED A PROPRIETORY CO. FOR MY WIFE JUST FOR TAX PURPOSES. I ALSO HAD MY OWN PROPRIETORY CO. SO WHEN WE PURCHASED THE FLAT IT WAS BASICALLY MY BUSINESS MONEY WHICH I WAS DIVIDING BETWEEN BOTH THE ACCOUNTS.(REAL ESTATE BROKERAGE.)
WE HAD ALSO TAKEN A LOAN ON THE BFLAT WHICH I CLEARED IN 3 YEARS AFTER TAKING MONEY FROM MY PARENTS PROPERTY THEY HAD SOLD.
TODAY WE ARE HAVEIN A CASE FOR DIVORCE FILED IN THE FAMILY COURT.BUT MUCH BEFORE THE CASE WAS APPLIED I HAD ALREADY TRANSFERRED MY WIFE'S SHARE VIDE GIFT DEED THROUGH A REGISTERED POWER OF ATTORNEY ON MY MOTHER'S NAME.
CAN SHE CLAIM ON THAT PROPERTY AS FINALLY TO CLEAR THE LOAN I HAD USED MY PARENTS MONEY.
WE ARE SHIA MUSLIMS. SO WHAT IS THE RULE IN THIS CASE. CAN SHE CLAIM FOR HER RIGHTS IN THAT PROPERTY I AM NOT ACCEPTING THE DIVORCE IN THE FIRST CASE.
ALL OTHER PROPERTIES WERE ALSO TRANSFERRED IN THE SAME MANNER TO MY MOTHER OF MY WIFE'S SHARE. BUT THESE PROPERTIES WERE ALL PURCHASED VIDE MONEY TRANSFERRED BY MY PARENTS TO MY WIFE'S AND MY ACCOUNT AS A GIFT IN THOSE DAYS.
KINDLY HELP.
Raj Kumar Makkad
(Expert) 22 October 2009
The concept of benami transaction has no place in Indian judicial process so what so ever property exists in the name of your wife solely and exclusively belongs to her and if you have gifted that property in the name of your mother, the same is an illegal act which can be rescind by your wife through civil court, if she desires. You have got no legal right to dispose off her properties though the same were purchased/gifted by your parents and even you repaid the loan of the house from parental money.
Atish
(Querist) 23 October 2009
Dear Mr. Makkad,
But the case where the property of my parents were sold and they gifted us the money and we bought the property from that fund, then if I have gifted it back to my mother through valid power of attorney because of my wife's wrong behaviour and then filing for divorce, then what is the status.
Regards
Suhail suhail
(Expert) 23 October 2009
It appears the concern here is that weather your wife can claim over the property which you have gifted to your mother;Since the property was purchased by you in the name of your wife you had gifted that to your mother through a registered power of attorney.If the power of attorney was executed in your favour by your wife and in that it was mentioned that you can sold,transfer,or gift the property to another person or persons and the power of attorney was in force at the time of making a gift deed in the name of your mother,then your wife cannot claim any title upon the property,when power of attorney is in vogue
and not revoked ,any act done by attorney holder within the specifications made in the document, the person who authorizes an agent (i.e the Principal) to do or not to do any of the acts mentioned in the instrument of authorization, is by all means binding upon the principal.The attorney holder discharges the functions which otherwise were to be done by the person who empowers to act on his or her behalf.The possibilities in which your wife can claim her right over the property are either; if she throws challenge over the power of attorney that is she will refuse to have executed any such instrument or would show she had revoked the P.O.A. prior to gift deed, then the matter becomes factual as well as legal though your counsel can better judge about the consequences of the case.However the transition of money is secondary part.It will be better to discuss with your Lawyer about all the consequences,as physically he can examine and go through whole of records.
adv. rajeev ( rajoo )
(Expert) 23 October 2009
It seems from your question that your wife had independent income.
If she challenges the will burden lies on you to prove that she had executed a POA to do all the things.
