buying property in parents name in india

• You can purchase the property on your mother's name without any complications.
• No tax will be applicable in India if you have already paid taxes in foriegn country.
• You should transfer the funds to your mother's account then she should pay for purchase of property.

1. Can I buy a house in my parents name?
2. Can I buy property from my mother?
3. Can I buy property in my child's name in India?
4. Can a mother and son buy a house together?
5. Can I sell my house to my son for 1 dollar?
6. How much money can my parents give me to buy a house?
7. Can I take home loan on my mother property?
8. Can I buy house from my parents India?
9. Can I take home loan on my mother name?
10. Can Father purchase property in sons name?
11. Can mother sell property of minor son?
12. Can father sell property without consent of Son?

Can I buy a house in my parents name?

Yes, It is possible to get a Home Loan in the name of parents. ... Essentially this means that if you are the earning member of the family and responsible for paying the EMI you have to be a part of the Home Loan Application, the property need not have your name and can be purchased in the name of your parents.

Can I buy property from my mother?

Yes, son can purchase the property from his mother . There is no bar for such kind of transaction. Son has to take care that will should be registered or there is no objection from other legal heirs.

Can I buy property in my child's name in India?

Advocate Goturu Krishna Rao. Yes you can purchase property in your daughter's name. As she is minor she should be represented by you for registration of property in her name. Once you purchase the property you will not be entitle to sell it in future without the permission of court, unless she attains majority.

Can a mother and son buy a house together?

There are no lending rules against purchasing a home with someone who is not your spouse or family. Some common relationships that co-own a house together are as follows. An adult child buying with his or her father, mother, or step-parent. ... Two or more families buying a large home to live in together.

Can I sell my house to my son for 1 dollar?

Can you sell your house to your son for a dollar? The short answer is yes. ... The Internal Revenue Service takes the position that you're making a $199,999 gift if you sell for $1 and the home's fair market value is $200,000, even if you sell to your child. 1 You could owe a federal gift tax on that amount.

How much money can my parents give me to buy a house?

As of 2018, parents can contribute a collective $30,000 per child to help with a down payment — anything after that would incur the gift tax. Other family members have a $15,000 lending limit before they, too, have to pay taxes.

Can I take home loan on my mother property?

Yes you can. But your father, as the owner of the land, will have to be a co-borrower for the loan. Also, you will be able to avail of the tax deduction on the loan repayments only if you (and your brother) are owners or co-owner of the house property.

Can I buy house from my parents India?

—JavedYou can get a home loan to buy your father's property if your income can justify the loan. You can get tax deduction benefit of Rs 1 lakh for the principal under section 80 C and if the property is self-occupied for the interest payable up to Rs 1.5 lakh under section 24 on a home loan.

Can I take home loan on my mother name?

Unmarried daughter and mother:

An unmarried daughter can apply for a home loan with mother as a co-applicant. But the property should be in the name of the daughter while the mother's income is not considered.

Can Father purchase property in sons name?

If father purchased the property in the name of elder son by a registered deed of sale then younger son and father himself have no right.It is does not matter who had provided money. This provision is enacted after abolished of Benami Transaction in 1988.

Can mother sell property of minor son?

Share of minor children can not be sold without the approval of the District Judge, 5. You can challenge the said sale deed now before the Court of law.

Can father sell property without consent of Son?

No, ancestral property be cannot be sold without consent of successors in case of major and in in case of minority you might have to take permission from the court. And if property disposed without consent can be reclaimed.