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rising up again (FFF)     27 January 2014

Does she have a share in property ?

hi Forum,

A small query.......

 

I bought a property worth approx 25 lakhs about 9 years back, on a joint loan with my wife. She gave approx 1 lakh to me from her account (in good times) which i had returned after a few months in cash. Since then, i have been paying for the EMI's from my account and she has never evr paid any single rupee on the EMI's. The freehold property is in my name.

 

Now, If she proves the loan given to me by a bank statement and then the joint loan. how much share does she hold in it when we talk abt maintainence in court ?? as i am the sole owner, will she still be benefitted by the above mentioned facts ????  She says, she will put a stay order on the property and not let me sell it ??? is that possible ???? 



Learning

 10 Replies

Dr J C Vashista (Advocate)     27 January 2014

Dispose off the property as early as possible. She do not have any right, title or possession but can have a claim to harass you, which may put you in an embrassing situation or evitable litigation

maxx (pvt service)     27 January 2014

how will disposing off the property be of any help? even if he disposes of the property, the court will always consider the money received after disposing off the property and divide it between the two. even if he invests in some other property, that property will again into litigation as it has been bought by the money from the earlier property....disposing off will not be off any help, on the contrary, it will have a negative effect on the case

stanley (Freedom)     27 January 2014

@ author 

1. Dispose of the property as you are the sole owner before she file a claim under Dv act for Right to residence.

2. Let her file a suit to claim the amount that she has given and let her prove her  share in which she has invested and the same can be divided in that ratio as per the market value. 

1 Like

great india (manager)     27 January 2014

agreed with stanley and dr. vashishta......

1.gift it to some close relative.....and then sell off.....
2. you will save tax and you IT return wont show property as sold....rather gifted ....benefitting tax .....
3. mother / brother or any blood relative can help you.....
4. so it will be " ek teer do shikaar"

T. Kalaiselvan, Advocate (Advocate)     27 January 2014

Gifting the property is not a better suggestion.  What is she doing the loan on the property?, if she was a guarantor to the loan, she cannot claim rights over it, but if it was a joint loan, what is the present status of the loan?  If you have been EMI from out of your money what is her status in the joint loan?  However, if the property is on your name, you have full rights to dispose it in any manner you desire. Sell it off, if she claims it, let she prove her claim after that by impleading the new buyer thereby earning his wrath as well. Start the game.

rising up again (FFF)     28 January 2014

Dear ALL,

The loan is still going on with last few instalments pending. As i have been paying every instalment of the property, how can she be a part of it ? I am already trying to sell it off asap... inspite of the current market situation which isnt giving a good price for the same.

ALSO, will buy the new property in my mothers name... will that help ????? as then she would not have a right on anything at all.

Dr J C Vashista (Advocate)     28 January 2014

@Rising up again,

Read the reply and act, very well advised by experts.

Finish the loan, dispose off the property as you like, the earliest is better..

Your query to buy new property in mothers name is OK


(Guest)

Can he repay all loan in one shot without joint loan holders (wifes) signature?

Dr J C Vashista (Advocate)     29 January 2014

Of course he can repay all loan in one shot without joint loan holders (wife's) signature. Act fast, otherwise you will be inviting more troubles for you.

omprakash agrawal (director)     06 February 2016

My son purchased a property in the joint name of his own and his wife but paying emi from his salary . Can she prevent or claim her right in such property ? Please guide as how my son can sell it . There some dispute is going on between them . 


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