Big shock for those who buy property in wife's name! Court's decision creates ruckus Court Decision On Wife Named Property

Court Decision On Wife Named Property - What did the court say?

According to the court, if the husband has bought a house in the name of the wife with his own money but has not shown himself as the owner in the registry, then he cannot claim that house. Unless the husband proves that he is also a legal partner in that property or he has any co-ownership document, he cannot claim rights over that house.

Now think, how many people in the country buy houses in their wife's name to save tax or for social reasons. Now if there is any dispute between husband and wife in future or a situation like divorce arises, then there can be a big problem regarding that house.

Benami property law will also be implemented

One more thing has become clear from this decision - if a person buys property in someone else's name, while the real owner is himself, then that case comes under the category of 'benami property'. Under the Benami Transactions (Prohibition) Act 1988, such properties can be confiscated and there is also a provision for strict punishment in it.

So now just by giving money, no property will be considered yours unless you show yourself as the owner in the documents.

So what to do now?

If you want to avoid any problems in the future and still want to buy a house in the name of your wife, then take some important steps:

Put both your names in the registry: If both of you are equally entitled to that property, then it is very important to have both your names in the registry.

Keep documents related to payment: If you have made a payment, then keep its receipt, bank transaction or loan documents safely.

Prepare MoU (agreement letter): Get a simple MoU prepared in which it is clearly written who has what share and who is making the payment.

Do not get caught in the trap of saving tax

Many people buy property in the name of their wife just to save tax, but this trick can backfire now. Because if the documents are not strong and only the wife's name is in the registry, then later you will not have any right. Therefore, before taking any decision, definitely consult a tax expert or lawyer.

Relief news for women

This decision has strengthened women. Now if a property is in the name of a woman, no one else can claim it unless there are valid documents. This ensures legal protection of the woman and her right over the property, especially when there is a rift in the relationship.

Now the time has come that property related matters should not be taken lightly. This decision of the court shows that the house will be considered as the house of the person whose name is in the registry. Whether you have made the payment or not, without proof or consent your right will not be recognized.

Therefore it is wise that whenever you buy a house, get all the documents prepared in a correct and transparent manner. So that there is no legal problem in the future and there is no sourness in the relationship.