Sale of Property - Amount Distribution

Sam,

         You can't get the cheque from the purchase in your name unless and until your mother consent for same to purchase. and if you can get the same in connivance with the purchaser even than in case of any claim in regard to the amount from your mother, you have to proof the consent of your mother. so, either put the same in the draft of sale deed that the amount upto ----- is handed over by the purchaser to my son or take the recourse of subsequently take the amount from your mother.

there r two ways you can sortout the problem 1..deposite the cheque in joint a/c of u nad ur mom ,2... mention your name in sale deed as consenting patry with consideration and take cheque in your name and deposite it your a/c.. for capital gain you may consult your IT consultant or go through net.

Thanks for ur advice!

Can we mentioned in the deed the sale proceed will be Electronically Transfer to specific account(by bank itself) because it will be the same bank(from where the purchaser is taking loan for the house) in which i hold the account also. Or if cheque is given it will be mentioned to be credited in specific account