Sale of property
This query is : Open
Querist : Anonymous
Querist :
Anonymous
(Querist)
14 December 2015
Mr X and Mrs. X buy a property in joint ownership in the deed. But all the money is paid is by Mr x bank account. Now there is sale of property ? If i want to pay only to Mr X for purchase of property, what should i do?
14 December 2015
since Mr X and Mrs X are joint owners in property documents it is not possible to pay sale consideration only to Mr X. But one way to do that is that Mr X may obtain a power of attorney from Mrs X regarding sale of her share of property by Mr X and receiving sale consideration also by Mr X.
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Querist : Anonymous
Querist :
Anonymous
(Querist)
14 December 2015
If there is relinquishment deed, then will the relinquishment be treated as capital gain of mr X
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