Hello
I am 28, already engaged and scheduled to marry this year-end in December. Before my marriage, I intend to buy a home.
My mom has an existing residential flat which we do not use much (in her and my dad's name). They wish to sell it ASAP (as there are some issues there) and requesting me that I use up the proceeds of the sale (to avoid capital gains) when I buy my new home and register the new flat in my and mother's joint name. The issue is that my new home will cost Rs. 100 and the proceeds of my mom's flat will fund only Rs. 20. The rest Rs. 80 will be funded by me, through a combination of my savings + home loan.
My questions are:
1. I have a younger brother who is currently unmarried - can he lay claim to the flat, since my mom will be a joint owner?
2. Is it better strategy to fund the house entirely by myself and remain the 100% owner, to avoid future inheritance issues?
3. Is there a way my mom can save on the Capital gains, and we can avoid further complications in case we buy the house jointly.
Thanks for your patience in reading this.
