Payment Of Sale Value Between Joint Owners

Asked in Property

  • **C

    New Delhi

Expert's Answers(3)

  • Adv J.N. Dwivedi

    Prayagraj, Uttar Pradesh
      3 Client Ratings

    It can be paid by each owner or may not be it is dependents on Your understanding. But in future if any disputes will arise then it should be written in deed that what amount or shares have to be bear by both owners. For further assistance please contact me on my mobile number or whatsapp me Thanks

    July 5, 2023
  • Advocate Jitender Singh

    New Delhi, Delhi
      17 Client Ratings

    If the property is to be registered with the registrar office then it's advisable for you to go on paying the money according to the ownership shared by both the husband and wife. In your case if they hold the equal 50% of the share in the property in question then the payment should also be transferred according to that share only. The husband must be doing that to save some tax and if you go according to their scheme then you might get in trouble in the near future. For more legal assistance I am just a call away.

    July 4, 2023
  • Advocate Anik

    Bengaluru, Karnataka
      66 Client Ratings

    Dear client, When purchasing a property jointly owned by a husband and wife, it is generally recommended to pay the funds in a manner that reflects the ownership percentages. If both spouses are equal owners and share ownership of the property equally, it would be appropriate to pay 50% of the purchase amount to each owner. However, if there is a specific agreement or arrangement between the husband and wife that the property is solely owned by the wife, and the husband has no legal ownership rights, then it may be acceptable to pay the entire amount to the wife. In such cases, it's important to ensure that the ownership rights are clearly documented and legally binding to avoid any disputes in the future.

    July 4, 2023