Aryan Goyal 27 March 2024
I want to buy a property which costs around 20 lakhs in registry. I am paying up sum of 9 lacs from my account to the buyer account(NEFT). My 2 sisters are paying up directly in buyer account 5 and 6 laks respectively(NEFT) on my behalf.
Will these 11 lacs will be considered eligible for registry on my name? Will there be any kind of obligation to my sister and the buyer? Or shall my sisters transfer the 11 lacs to my account instead of the buyer?
T. Kalaiselvan, Advocate (Advocate) 28 March 2024
On the basis of transfer of funds through banks, your sisters may claim a share in the property at a later stage.
Instead you can get it transferred to your name directly and pay the consideration amount from your side directly to the seller to avoid future legal disputes.
Aryan Goyal 28 March 2024
Sir,
Thank you for replying. I understand the risk that you have mentioned.
But the arrangement that I have posted(Sister to buyer directly + me to buyer directly), will it work for successful registry under my name?
Dr. J C Vashista (Advocate ) 28 March 2024
Get the amount transferred in your account and pay to vendor from your account.
T. Kalaiselvan, Advocate (Advocate) 28 March 2024
The seller should agree to accept your arrangement on this, if he is okay then you can get a receipt accordingly so that he doesn't not claim sale consideration amount once again from you.
Real Soul.... (LEGAL) 28 March 2024
It is better to let your sisters transfer the amount in your account and you pay the buyer from your account only. That will make the the transac dirctly between you and buyer, Before transfer of mney let you take the receipt of money and it is much better if you pay through payees checque .
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