My father is asking me to take a home loan and pay the full emi of the loan. He will buy a newly constructed/under construction flat for me. My father has agreed to put 30-50% of total cost of the flat from his funds. My mother, who is unemployed, is insisting to register the property jointly in our name (me and my mother). My father is not clearly telling me if this property is for investment purpose or for residential purpose.
I am going to be married to a girl very soon, however my father insists that the purchase of the flat be finalized before the marriage.
In this context, I have a few questions to ask:
1. Whether by law, my father will become holder of the title in partnership with me just because he is paying 30-50% of the amount.
2. If I agree to register jointly with my mother now, will consent of my father/mother be required if I wish to transfer the registration from my mother to my wife?
3. In case my wife separates/divorces me at some later stage, will she have any right to claim this property or any proceeds from it?
4. In case my parents transfer their part of title to some one else with/without my consent, will my future wife loose the right to acquire this property ever?
5. In the event of sudden/untimely death of my parents before any voluntary transfer of property of the same to me or anyone else, will the property be transferred by law to me or my wife?
6. Whether decision of sale of such property registered jointly will be affected by the consent or otherwise of anyone of the title holder?
